As we all sit here waiting for the Congress to finish their bail out bill, I wonder what it means to us Realtors. I listened to all the media asking who caused this problem. The list is long and distinguished, with Realtors at the top of the list in the beginning. Remember, we referred buyers to our chosen mortgage Brokers to put un-qualified buyers into homes, only to have them loose the homes because they never could afford them in the first place. Forget the checks and balances that the bank was supposed to have in place to protect themselves.
Now let me see how that worked. A Realtor found a home that suited a buyer, we may or may not have referred a lending company, and then we twisted the arm of the lender to give the mortgage. Does that sound right to you? Well, it seems now that Congress put in place the programs that gave away money to anyone that seemed to need it. Can anyone say "no money down". Did the Association of Realtors come up with this program, or was it the Association of Senators and Congressman in our government. Maybe they need continuing education to keep their jobs.
We Realtors are hurting bad with this current market, and tens of thousands of hard working Realtors are suffering with income too. How about a bail out for us. Congress can just send checks out to all the Real Estate companies in this country, (tax free of course) so that we can feed our families.
Remember, Realtors make up the biggest association of professionals in the country. We are trained and experienced in helping families obtain their dream of home ownership, just the way Congress wanted it to be.
Maybe, just maybe this bailout will set us on a better course than the one we have been on. I just hope the money finds it's way into the homebuying economy, and not into making rich people more rich.
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