mortgage rates: Get new buyers off the sidelines now!
- 11/14/08 02:59 AM
I believe now that we have finally stepped up long overdue workouts of borrowers in foreclosure, it is time to focus on creating a stimulus package to entice buyers back into the market. New buyers could begin absorbing the glut of foreclosure vacancies and stabilize prices. Allow me to suggest the following: With the Fed being our de-facto mortgage lender for the foreseeable future it is time for HUD to step in and establish a short term Mortgage Stimulus Package with a temporarily reduced rate. Until the 1980's HUD set the FHA rates; as the market fluctuated loan points would vary … (1 comments)
mortgage rates: "Yes we Can" Get this Market Going Again
- 11/07/08 08:21 AM
A good deal of time has been spent talking about homeowners who are "underwater" and in need of relief ,but no one has addressed the backlog of solid potential home, and investment property buyers, priced out of the market at today's (relatively) high interest rates. Might I suggest we hold that torch for a moment and take a slightly different tack on our excess inventory? Since we the tax payers now own much of the banking industry why not offer a 6 month "FHA mortgage stimulus package" and reduce mortgage rates to a stimulus rate of 4.5%. (This is about the … (2 comments)
mortgage rates: Congress lets have a 6 month rate reduction for FHA to 4.5%
- 10/29/08 12:24 AM
Now more than ever we need a mandated rate reduction for FHA financing. This would be a tremendous stimulouus as follows: 1. Borrowers in trouble could refinance at a stated rate rather than negotiate individually. 2. Sidelined new homeowners would have an incentive to get in the game. 3. Lower rates mean greater buying power. This could stabilize the market more quickly.
I believe now that we have finally stepped up long overdue workouts of borrowers in foreclosure, it is time to focus on creating a stimulus package to entice buyers back into the market. New buyers could begin absorbing the glut of foreclosure vacancies and stabilize prices.
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