Fannie Mae, Freddie Mac, first time Home buyers, and the thousands of people fighting to keep their 
homes from foreclosure, are coming out the winners with the new bill signed by President Bush today. Matthew Kelly of Geek Estate Blog has illustrated a very nice explanation and recap of the bill.
Many sellers are asking everyday, what about us home sellers who need to sell for job reasons or other normal reasons to sell, have made our payments on time, and who have been the victims of this mess by having the price of our home driven down? It's been a vicious catch 22 for the responsible homeowner. Hopefully the trickle down results of this first round of solutions will spark the market enough to give these innocent victims of irresponsibly some relief.
Now, before you get your feathers in an uproar, I well aware there are many, many people in foreclosure because of job losses, being taken advantage of during the 2001 - 2005 inflated prices, money hungry crooks or greedy bank institutions. Granted, they should get the help that is needed. Most stats will show that most of the foreclosures are a result of placing buyers in homes that should have never been approved for a mortgage in the first place. Regardless of what has happened, we are here now and the paradigm shift is about to begin on how we in this industry do business. They say something good always comes out of the bad.
Reactions within the industry have been mostly positive, I'm hoping for a more responsible housing market in the near future, what about you?
Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com
Website for Clients: MikeBowler.com
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