More Foreclosures?

Realty-Trac advises over 300,000 home into foreclosure in January, and the articles linked below indicate the worst is far from over. If you're one of the millions of borrowers in, or heading for, trouble and expect some sympathetic help from your lender, you may want to consider some hard facts. For every news release advising of some government effort to encourage lenders to help you save your home, there are government programs designed to bailout lenders and hold them harmless should they foreclose and face a loss. The news releases are public relations ploys designed to make you comfortable with your politicians while the actual behavior is designed to make sure that cronies in finance don't lose any money. Tax dollars will continue to reward the risk takers and consequently disadvantage the borrowers. Billions of dollars have been pumped into banks with the advertised expectation the money would be loaned. In actuality, getting a mortgage loan is very difficult, the money is instead being used to shore up balance sheets, and to take advantage of very low rates for their own investment purposes.
Go HERE 0r HERE for a couple of worthwhile articles about the foreclosure picture. I try to provide you with reliable information and these are article from the lending industry, not some governmental propaganda. Information will allow you to make reasoned decisions about your buying, selling, or financing of real estate. We still offer a FREE booklet of information about your options if your mortgage is in trouble. You can order it HERE
If it's easier just email askdougnow@yahoo.com. If you want a referral to a knowledgeable mortgage/foreclosure attorney just go HERE
With any luck we'll find a way to get the government out of the way and we'll all survive this mess, but it won't be easy, and it won't be soon.
As usual
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