reduce mortgage interest 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)
reduce mortgage interest rates: An Open Letter to Congress from a Veteran Realtor Regarding HR6694 & Reducing Mortgage Rates NOW
- 10/24/08 05:18 AM
An Open Letter to Congress from a Veteran Realtor Regarding HR 6694 and a new Stimulus Package Please vote to defeat HR6694. Reinstating this pseudo charity is the sort of reckless lending that lead us into our current financial melt down. The way this "charity" works is that a Seller (most frequently a developer with multiple properties to sell) donates a ‘gift" of approximately 4% of the property's sale price to a designated charity. (Nehemiah and AmeriDream are two such organizations). In exchange, the charity donates the 3% downpayment required for a potential homeowner to obtain FHA financing. (Soon to be … (0 comments)
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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