Banks, Bucks, and Bungling

Here we are with 115 banks closed down by FDIC. Kind of shakes your faith in the intelligence and integrity of people we had come to regard as caretakers of our deposits. CIT which benefited from a substantial infusion of taxpayer cash by their friends in government are now poised to file bankruptcy which promises to cost the said taxpayers over two BILLION dollars. The same friends in government who are currently pointing to the "success" of the stimulus in creating and/or saving jobs in the face of figures that dispute their claims and a jobless rate that continues to climb and pure number of unemployed that continues to rise. We can be sure that the bad news is going to continue so long as the concept of spending our way out of the economic mess with borrowed dollars continues. Only job growth will solve our problems, only a reduction in taxes on the job providers will permit job growth. Moving in the opposite direction the administration and congress are pushing hard to increase the tax burden and the debt with an ill-conceived health care overhaul, to "transform" a system which is the envy of the world. To be sure some reform is needed, but incremental and targeted, not radical and authoritarian. Competition across state lines by the approximately 1300 insurance companies would drop rates significantly. Tort reform would reduce the costs of defensive medicine. A THOROUGH attack on fraud in existing government programs by vendors, (FREE SCOOTERS), providers, (hospitals, etc.) Texas runs a tight ship and provides a model that works. Massachusetts and Tennessee provide models that don't, as do England, Canada, and other socialized schemes.
Free markets made us the greatest society in the history of man. Kind of silly to abandon a winning strategy to satisfy the power hunger and egos of a bunch of incompetents who have never run so much as a news stand.

As usual
Thanks for visiting

Real Estate/Mortgages/Politics

Home values are up, or down, depending on what paper you read, or what government purpose needs to be served. Money is more/less available for financing with the same caveat. The administration in Washington/Sacramento/(your city here), is the finest the world has ever seen or headed for absolute disaster. For most of us, the pulse that we keep our fingers on, and most pay attention to, is our own. For most of us that pulse is weak and at best erratic, and therefor troubling. Those we elected to provide leadership would apparently have trouble organizing a one car parade, and couldn't track an elephant in two feet of snow, and yet they persist. For the careful planner viewing the probable outcome of our mounting national debt, a study of the Chinese language might provide some gainful employment in the near future. Next best might be a study of survival skills in the wild.
Enough with that. For those with credit still intact we can provide financing in this tightening market at very desirable rates and terms. Tougher than it used to be for sure, but possible. Commercial financing, largely reported as dead, is readily available, and none to soon for those with balloon payments coming up in 2010. Agricultural financing, both real property and receivable financing is available. For those who want to convert a stock portfolio to useful cash, at very low interest rates, we have a solution. And for those for whom a loan modification may be the only salvation, we can provide no up-front fee assistance. Our work is significantly more difficult now than in the past, but the rewards of successful completion, the psychological rewards that is, are also greater. Home sales are slow and prices are driven by the foreclosure and distress sale markets so it's not a good time to be looking for a generous buyer. For the buyer it's a good time if there is some intent to keep the home for a substantial period. There are some good bargains out there, but no way to know if the bargain may be better in the future. Personal circumstances must drive the decision process. Advice from someone who believes they're able to read the market is less than worthless. About on a par with buying a tip sheet on the horse races. We hope you'll let us help with your decision process or your financial needs.

As usual,
thanks for visiting