What have we learned.......

By Shane Ruff

Real Estate Agent with Realty Associates Network Incorporated 475.137455

October 03, 2009 09:49 AM

(This is the final installment in my saga of trying to get help from my lender for the "Making Home Affordable" program which by definition I qualified for)

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To review, I've been blogging about my attempt to see if the "Average hard working Joe" could take advantage of the Making Home Affordable program as instituted by our countries leadership. My Answer: NO WAY. Here's the latest chapter:

after resubmitting my paperwork for a 2nd time (see earlier blogs to catch up...) I finally, after almost 7 months from the date I first sent paper work in, received a letter stating "NOT ELIGABLE" REASON: CURRENT". Mind you this was my full 2nd time through the nuthouse after being told I had a negative household income (because my genius lender had left my wife's income out of the household totals.......that was a good one...you should go back and read that blog post again!) Why in the world did they make me jump through another set of hoops just to be told something that they were obviously aware of in the first place? <sigh> If nothing else, this adventure has taught me that the biggest part of the reason the housing industry got into such a big mess was that the Lending institutions we put our faith and trust into, obviously couldn't run a lemonade stand let alone be reasonably responsible for deciding whom to and whom not to loan money out to. The programs as outlined by definition were put in place to help people stay in their homes. Along the route I found out that 1) If you are making your payments you are never getting your loan modified. 2) if you are late (especially if you are behind because you 'overbought' in the first place, the lenders are more than happy to give you a super rate (starting at 2% for most) and not change that rate much for the next five years (not teaching those people how to live within their means in any way, shape or form....) 3) The Average Joe like myself who is looking for a helping hand to not have to live so tight in a tough market is not eligible because I am responsible and only bought what I could afford......not gonna get any help from Uncl' Sammy because the program is not set up to help the responsible.

Again folks, I'm making it....between my meager income in the housing market (which btw... is still making small indentations upward!!! whoo-hoo!) and my wife's assistance to our household income, we will make it...Things are tight, but we have a roof over our heads (no thanks to N****** C*** M******* you know who you are......), three meals a day and a whole lotta love in the house, ...we make it. I just feel for those folks out there who really need the assistance of this program and are ready to fall behind....the time period just waiting is absolutely not acceptable!

In the mean time something to cheer you up! Here's this months:

By The Numbers...

For September 2009 Single Family Detached Homes (Information courtesy of MLSNI)

Naperville

Active Listings:1046 (as of 9/30/09)

Sold(9/01/09-9/30/09): 115

Months Supply(Act/Sold): 10.93 Months

High Sold Price: $2,500,000

Average Sale: $490,026

Average Market Time: 147

September 09 Top Subdivision (sales): Tall Grass (7), Cress Creek (5)

www.NapervilleHomeSeller.com