FORECLOSURE ACTIVITY IN CALIFORNIA

Here is the latest article pointing up the continuing problem of foreclosures. Go HERE
While Obama is in Nevada promising more billions to troubled borrowers in exchange for votes for Harry Reid, the real estate market continues in chaos. No one in government seems able to connect the dots of their intervention with the long slow collapse of the housing market. Left alone the market by now would likely have reached some level of equilibrium. We might not have liked the level, but it would be on the way back to normal. As it is we're expending enormous amounts of money, we've stalled the economy, and we're headed for the same level anyway. Interest rates, as indicated by this article are in great shape, and these pronouncements are intended to make us all feel good, but the fact is you probably can't qualify for the loan, or even if you do, no one will loan you the money. We see the same advertisements you do, advising 48 hour approval, fast this and fast that, but in fact what we used to be able to do in two weeks is taking more like 45-60 days, and even then the risk of collapse before funding is very great. Originating lenders are running very scared, mainly because the investors who buy the mortgages are not especially anxious to do so. The government has made it possible for them to borrow money at virtually zero interest and use it to buy government securities at a profit with zero risk. So why lend it to real estate borrowers?
Reagan was right. Government is the problem.
Meantime, if you or anyone you know is faced with foreclosure, please send for the FREE booklet explaining your options. http://www.foreclosurebooklet.com or email askdougnow@yahoo.com
As usual,
Thanks for visiting