Am i hearing correctly that the government is getting back into the REO game a la the RTC back in the 90's, is this a good thing or a bad thing?
one thing for sure is that it proves again that we don't learn from history, we need to either be a capitalist society or a government run one, right now we are capitalist but if something goes wrong the government is ther to pick up the tab.
If my tax dollars is being used to pay for the messes we need more oversight on what is going on, if there is no over sight then don't stick me with the bill after the big guys have made millions.
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I am client focused results based Realtor whose interest is in "getting our clients from where they are to where they want to be" My team and I service the entire Phoenix Metro area.
Phoenix area road closures weekend of October 24 ~ 27
Some information regarding the upcoming elections in AZ.
30-Day Market Snapshot as of 10/18/2008 (from ARMLS for past 30 days – residential sales only)
Metro Phoenix Weekend Closures & Restrictions on Valley Freeways
Pending home sales are rising, the western states lead the advance.
State AGs ask lenders to fast track mortgage aid:
30-year mortgages drop below 6 percent
Why are buyers asking for 6% closing costs
Its not all about Price remember the effect of interest rate
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The government may very well pick up the tab but the price we may pay is far higher than we will be willing to pay. Be very careful about giving up your freedom...It too came with a huge price tag and may not be attainable again.
Andrew -
I, as you, are concerned as to where this is headed!
If the Fed bails out every troubled financial institution to stave off disaster on a daily basis, our deficit will soar, as will, eventually, our monetary standing worldwide. Inflation is likely to escalate as well.
And much of the tab for this current largesse will be paid by our kids, later on!
DEAN & DEAN'S TEAM CHICAGO
Someone (can't remember) proposed on AR that the government buys the bad paper at 50 cents on the dollar and then lease options it for two years. I am a big time capitalist but if we are going to bail one, might as well bail all. Our free markets are constantly interfered with. Not right/wrong or indifferent but I am just saying ...
The real question is will they use in-house methods of selling off and dealing with the homes, or will they use local agents? May get very interesting for us REO agents.