Homeowner Affordability is at an all time high. People in fear of loosing there home have something to look forward to that might help them. Major Lenders freezing Foreclosures. Every day it's something new. It's almost impossible to keep up with whats happening. Not a day goes by now without me wondering will we ever stabilize again.
Some folks are feeling taken advantage of because the new programs will reward, in their opinion irresponsible home buyers. Not really so. Many of these people are having hard economic times because we're in a recession that began over two years ago. For some reason our Goverment refused to acknowledge what we were seeing since December of 2006. Sales began sliding then and have been ever since.
Something has to be done and soon. Housing, the Automobile Industry and War have always energised our economy. I don't know about you, but a boost in home sales is a better alternative than beginning another war.
If we let the Foreclosures continue to dominate the Housing market it will be forever before the average home owner recovers his/her lost equity.
Lets all hope that this plan slows the Foreclosure rate and if not at least boosts the motivation of those home buyers waiting on the side lines to jump in and buy now.
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