Many incentives are now being considered by various banks, including Fannie Mae. Some the incentives they are considering to help sell their foreclosures faster, include reducing the interest rate by 2% over the 1st 2 years. Not only are many foreclosures being sold at 50 - 60 cents on the dollar, or less, but they are now offering incentives on top of that?
Why aren't these incentives being offered to the current home owner in an effort to avoid foreclosure!!!
Chances are excellent that the current home owner could make the payments at 50-60 cents on the dollar plus incentives!!!
Most of the wealthy investors purchasing these foreclosures already have more breaks than they can handle, why help them take more, ultimately at the tax payer's expense?
Common Sense has become a very difficult thing to find ............
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