Talk about a stimulus plan that appears to be going in the wrong direction! Change? What Change? This is pure waste of spending and worse, it`s not going to help those who need the help, namely the Middle Class!
President Obama said the plan is needed to avert a deeper recession and commence with economic recovery.
I don`t know about you, i`m worried.
I don`t really know if the stimulus package is a great idea unless you`re looking for "Green Jobs"! Do I want someone to train me to install solar panels.Is the middle class considered?Where do most Americans fit into this plan? The plan seems to be helping the poor and the super rich.There is no accountability in this plan, there are no guarantees that jobs will actually go out to Americans. There are so many holes in this Stimulus package,it`s ponderous!
I`m concerned Administration officials said the new bailout was likely to depend on private investors to purchase the toxic assets that wiped out the capital of many banks.Why? We just gave these lenders billions, what have they done with the money? Well, they`ve paid off debt, gave out bonuses and in some cases attempted to slide a 12 seater Jet worth $50Mill, saying it was desperately needed.
Americans are paying for it, now and in the next 50 years!
We have a short sale situation in Davie,Florida where we our buyer hired our company to sell their property and disappeared into the abyss.
It`s a shame we have the buyer and could close within 45 days providing the lender agrees to the sales price.
The seller knows there`s an offer,receives calls from the lenders daily and is too lazy to sign any paperwork. It`s a new twist to an old saga of "Short Sales"! Hard to imagine, can`t seem to comprehend, yet this is all true.
When you`re in a position to sell, don`t think just sign! You`re not alone! There are many people who are involved in similar situations.
Having spoken to this person several times, i realize there are other issues involved and have expressed my concern to the lenders. Hopefully, the lenders will advise me what our next step is...In the meantime I keep asking " Take me to your lender"....
Nothing comes easy in this business anymore!
Ready for some good news?TARP covers mortgage in new plan!
Treasury Secretary Tim Geithner plans on allocating approximately $170 Billion in funds from our "Troubled Asset Relief Program" to a new program called the Mo-MOD..
Simply put the MOD-MOD is a loan modification program that could quite possibly rewrite 500,000 loans per month.
It`s an interesting plan that would definitely clear many of the lenders bank balance sheets,by structuring a new mortgage that actually reflects a home`s worth today, rather than what they paid yesterday. It`s for those who have been "Upside Down" on their homes.
The lenders will pool their money the Fed has loaned them into securities that will reflect the current value of your home!
Basically, it`s less risk for investors. The actual software package for the MO MOD platform was developed by a Ponte Verda Beach, Florida firm named "Smithfield and Wainwright".
It appears the Obama Administration is finally looking to stop the carnage of the housing market which has been beaten to a pulp. The Government realizes that millions of people are in trouble. By instituting a plan where people can keep their homes is an idea we in the industry should welcome with open arms!
visit www.browardbesthomes.com
If you read the FAR "Agreement to enter into a lease" there is no where in the document which requires Realtors to run a criminal background check on a prospective tenant.
If a landlord requests one we`ll tell them where to locate the information.
I don`t like prying into our clients past or present history for two reasons;
1- I adhere to the contract set forth by the state of Florida.
2- I respect our clients privacy.
Two weeks ago we had a prospective tenant look to move into a condo in Davie,Florida.
The association required they run a criminal background check on this person. They client agreed filled out the form and sent it to the association, thinking everything would be OK, wrong!
The Association called to tell me they denied this person because at the ripe old age of 18 he was busted for possession of a joint in Arizona.
He`s 33 years old and has never had a criminal record.He`s got a great job and an outstanding citizen of our nation.
I called the association and faxed over a police report showing the case was was dropped.
Sometimes, it`s a bit over the top for an association to take it upon themselves to make decisions that have huge implications on a person`s life.
The client had to go back to the association and explain why he lied about being arrested 15 years ago.
Talk about embarrassing, this person told me they grilled him for twenty minutes about his heinous crime.
Yesterday, he moved into the condo "Thankful that we were able to help "... Everyone makes a mistake in life! This poor man`s sin was being in the wrong place at the wrong time doing something many have done before!
As i listened to this request yesterday I thought back to the days when this type of client would actually be able to purchase a home. In the old days a person could get a mortgage without showing much. Requirements were so eased that a crafty mortgage broker could shop this loan to a dozen sub-prime lenders and guess what?! Someone would bite!
Often the Lenders would roll out the red carpet for guys like this!
Today, hearing someone tell you they have "NO CREDIT and NO MONEY" I normally end the conversation,shake hands and politely show them the front door of our office.It`s obvious some people are living in a drug induced coma!
The world of Real Estate has changed so much.Banks are so cautious, the don`t even loan money anymore. Inspite of what the media proclaims "banks couldn`t care less"...
Dealing with individuals who are in search of "Lease to own homes or coming out of pocket with Zilch" is a waste of time unless their credit scores are in the mid 700`s...
Back to the client. He saw one of our listings in Pembroke Pines,Florida the home is a beautiful 4bedroom 3bath pool home which is severely upside down.
He wanted to place an offer on the home,hoping the lenders would forgive his past history.
When he told me his plan and wanted me to speak to the lenders I asked him how he would come to closing without any money?
He gave me a blank stare and accused me of "Ruining his dream" I guess he really didn`t think the entire process through!
Dreams are good when sleeping,but don`t daydream during working hours, it`s not funny anymore!
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Full Service Discount Broker specializing in Short Sales and Foreclosures throughout Florida. Buying,selling or renting in Broward,Miami-Dade,or Marion County give us a call today! Broker/Owner.
I have lived in South Florida for the past 26 years. I started in Real Estate in 1985 as an investor. My goal is to make sure that you and your family are completely satisified with our group`s service. In todays market you need someone who can assist you throughout the transaction. That means taking the time to keep you abreast of everything that is going on in todays Real Estate market place.For more information on how our group can assist you, please feel free to contact me today.
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The following articles are a great place to start if you're looking for information about the sales process and how you can get more for your home when you decide to sell.
The Basics of Marketing Your Home
How to Set a List Price for Your Home
Get Your House Ready to Show Buyers
Why Use a Realtor when Selling a Home
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The following articles provide useful information and are a great place to start if you're considering buying a home.
How to choose a Neighborhood for Your Home Search Why use a Realtor When Buying a Home? How to Choose a Home Home Inspections Avert Future Headaches Take Charge When Buying a Home The Basics of Making an OfferTony C
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