Once again the government is set to throw more taxpayer money right out the window in the name of bailing out homeowners facing foreclosure. Quite frankly, such a move no longer shocks us as much as it makes us just want to scream “stop this insanity.”
Here’s why. The government is going to make $3 billion available through a couple of different programs whereby so called hard hit homeowners facing foreclosure will be able to apply for up to $50,000 “deferred payment bridge loans” that are zero percent interest, non-recourse subordinate financing good for 24 months to help them pay for their mortgage principal, interest, mortgage insurance, taxes and hazard insurance payments. So, let’s see if we understand this right. They have no jobs or are facing some form of severe financial hardship and we are supposed to believe that within 24 months things are going to turn completely around and they will then be back on their feet and just fine? Well, if that’s the case, then why the non-recourse stipulation?
Continue Reading Will the Handouts Never End?
Tags: foreclosures, HUD, mortgages
No matter where you stand with regards to health care in the United States, all Americans lost some of their ability to freely pursue life, liberty and happiness yesterday. And, no one ever said it better (than one of our most famous founding fathers) as to what the public should now do in order to deal with this utterly disgusting travesty perpetrated by the Democratic Party.
The internet is a remarkable tool for real estate agents to use in their daily business life. The multitude of website providers and the information available to be used as website content is almost limitless. However, with such use also comes a fair amount of responsibility and accountability on your part as a professional. Flying by the seat of your pants and not taking these two things seriously are the stupidest things you can possibly do as an agent/webmaster.
