A rumor moving around the blog-sphere is scaring some area sellers into believing that that banks are not lending money for home purchases in Poinciana, Florida, a surprising rumor given that a home was in fact just sold in Poinciana just last week on 12/21 by, of all entities, a bank. Folks, this is a scare tactic. The fact is that, if this were happening, it would be an illegal practice called redlining.
Granted, only 400 homes have sold in all of 2007, money is still out there and banks are lending. Agents encouraging this rumor are likely to be agents wanting to list your property for sale who may very well not be working with buyers. If you run into an agent who tells you "mortgage money has dried up" for Poinciana, I would question this person as to which banks, exactly, are practicing redlining. Then, report that back to Poinciana Home, so that the proper authorities are notified.
©2007 Darhlene Zeanwick. All rights reserved. Poinciana @ Home™ home page. The Poinciana Crane™ local blog. La Caballera de Poinciana™ blog en español.
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