So far the success of the HOPE for Homeowners program is limited but the NAR is supporting revamped legislation to help homeowners having trouble paying their mortgages keep their homes. Read full article at this link: http://www.realtor.org/press_room/news_releases/2009/02/realtors_urge_to_help_hope_homeowners?lid=ronav0022
Tenants of Fannie Mae and Freddie Mac homes are experiencing some relief also, as the moratorium on evictions has been extended through 02/28/2009. Fannie Mae is actually entering into some rental agreements in an unprecedented decision to change their policy in January 2009. I am a listing agent for Fannie Mae REO properties on Kauai, so please feel free to post questions on the comment board.
Gibbs Realty and Auction Company - Columbia, SC
The lenders must take responsibility for the bad loans and they must also help the unfortunate consumers that had job loss.
Feb 11, 2009 09:44 PM
Hawaii Life Real Estate Brokers - Lihue, HI
REALTOR, South Kauai Broker in Charge
President Obama's speech today from Mesa, Arizona got a loud applause when he said something about everyone taking responsibilty.
It was pointed out on CNBC today that you will benefit from this plan as a homeowner,even if you are not at risk for losing your home, because foreclosures bring down home values for everyone in the neighborhood. The news said that one foreclosure drops the market value neighborhood house prices by 3% and a two foreclosures drops area home prices by 10%. The report did not quote the source, and as real estate is localized, this may vary from town to town.
To update my post, the Fannie Mae foreclosure and eviction halt on occuppied single family homes was extended through March 9 to give the administrations plan time to be implemented.
Feb 18, 2009 01:50 PM
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner
Hello JJ,
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
Feb 23, 2009 04:25 AM
Hawaii Life Real Estate Brokers - Lihue, HI
REALTOR, South Kauai Broker in Charge
Aloha Keith,
Thanks for the kind words. Maybe someday I will get to 300,000 points like you. Of course, by that time, you may be hitting 1,000,000. Maybe you could help me as I am a newbie to blogging. How many hours per day(or per week) do you schedule for social networking and blogging?
JJ
Feb 23, 2009 04:50 AM
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner
Rainer
9,067
9,067
JJ Leininger
REALTOR, South Kauai Broker in Charge
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