Why Did We Bail Them Out????

By
Real Estate Agent with Exit Realty Premier

I keep sending very qualified buyers to lenders only to find out that unless their credit score is over 750 they will wind up paying 2 to 4 points.  We bailed these people out to stimulate the economy.  THEY ARE NOT DOING MUCH STIMULATING!!  Many people have lost a great deal of their savings with the market dropping from 14,000 to 8,000 (by the way we bailed these people out too.) yet our lenders are demanding more upfront cash to buy a house.  Something seems out of wack here.

Comments (5)

Everard Korthals
---Preferred Lifestyle Advisors--- - Lancaster, PA
Mountain Realty

 

Welcome!  If ever you were to have any questions then feel free to contact us and we'll try to help. Please take a look at our blog. for links to valuable information in our sidebar that you can use to navigate this extensive network.  

In regards to your blog post. If you take the 10% effect, 85 million would be lost in the transfer of funds to the american people, with most of it being used to raise corporate wages.

We hope you have a great day, All The Best- 

Sincerely, ( Active Castellum ( Castellum Realty llc - Lancaster PA Real Estate )

 

Jan 27, 2009 07:00 AM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Robert,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!

-Keith

Jan 27, 2009 03:23 PM
Yvette Gardner
Keller Williams Realty, Spartanburg, SC - Spartanburg, SC

Welcome to the Active Rain community. This is a great site with lots of information.  Have fun with it and hope to see more of your blogs soon!  We have a team of three outstanding full time agents to assist your buyers and sellers in Spartanburg/Greenville, SC.  Let us know if we can ever help. Again, welcome to AR!!

Jan 28, 2009 12:46 AM
Jean Terry
Keller Williams Realty Spartanburg, S.C. - Spartanburg, SC

Hi and welcome to Active Rain, a great site to network, share, learn, and have fun. Good luck. And if you need an agent in the upstate of South Carolina, please call me.

Jan 28, 2009 02:28 AM
Todd Clark
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

You mean you didn't get your bonus from the bailout? I agree that these banks basically stole this money from the American people and need to be put in jail! I've done more horror stories of short sales and loan modifications in the last 6 months than I had in the previous 3 previous years. Before this whole bailout thing, if a short sale or loan modification needed to be done, it could be done in less than a week, now they won't even consider it.

Todd Clark, Helping Families Home - www.IFoundYourNewHome.com

Feb 04, 2009 06:15 AM