The housing crisis . . its on the minds and hearts of us all! The core of the problem? Many of the very people we have elected to STOP and SOLVE the problem do not GET the big picture!!!! This is why it is so important that REALTORS and MORTGAGE professionals alike take the time to send out BLOGS, EMAILS, make phone calls and just talk up what is really going on out there? How many of you know that the Federal Reserve is a privately owned business ? Yes it is owned by privately ran banks . . wait a minute??? If you are confused check out this article. http://www.factcheck.org/askfactcheck/who_owns_the_federal_reserve_bank.html
NOW TO THROW UNDER THE BUS . . . about a week ago Maxine Waters Member of the U.S. House of Representatives from California's 35thdistrict, was interviewing Ben Bernake, Chairman of the Federal reserve over her concerns about rising interest rates. The problem? She did not understand the difference between the federal funds rate and the discount rate.
In the United States, the federal funds rate is the interest rate at which private depository institutions (mostly banks) lend balances (federal funds) at the Federal Reserve to other depository institutions, usually overnight. It is the interest rate banks charge each other for loans. ( Wikipedia)
Check out this YouTube video and see why I am concerned!
Enough said folks . . . get involved and in the KNOW!
For more information on Short Sales, Foreclosures, REAL ESTATE, and MORE visit my website at www.realtynegotiations.com