Disqus - Latest Comments for LadyFLRealtor

Re: Bailout Bill Must Include Help for Homeowners

LadyFLRealtor — Thu, 02 Oct 2008 17:54:37 -0000

Lauren, you are so correct. At the very least there should be a freeze on foreclosures until Congress figures out a solid plan, and I don't care how much of their 6 week vacation they cut into! They should have been working on this the last year. Bush put through a terrible plan, but Congress has not looked out for Americans, loyality to too many lobbyists and contributors. The housing plan they already passed did not help Americans either and we will owe on it for years to come.

Re: Bailout Bill Must Include Help for Homeowners

LadyFLRealtor — Thu, 02 Oct 2008 17:48:50 -0000

You are so correct.

Re: Bailout Bill Must Include Help for Homeowners

LadyFLRealtor — Thu, 02 Oct 2008 17:46:54 -0000

The Bankruptcy courts already allow for re-modifications of second homes and investment properties, but unbelievably there is no help for the homeowner. There could be a cutoff period so that this is not a precedent for filings in the future, but these times are different. Perhaps it could only affect those properties "upside down" financed between 2004-2007. If the loan balances were adjusted to the current market with a lower interest rate (arms went up 3% higher even on conservative rates of 6.25) requiring PITI (principal, interest, tax & insur) it would be far better for the economy for people to stay in their primary homes.

Empty houses and foreclosures are driving the values of the neighborhoods down lower & lower with no end in sight. The bleeding has to stop, and throwing billions to reward Wall Street's speculative actions with no retributions is not the way to go. Perhaps Congress better take an extra week, listen to economics (and not just the financial institutions/politicians with their own agenda), and then put forth a plan than Americans can begrudgely support, with an end to the crisis in site.