Yes I am sorry to say that all the bailouts in the world will not solve the biggest problems of the real estate market. You can’t fix that the housing market went up to fast too quickly and millions of people got mortgages that they couldn’t afford. Lawmakers keep falling for this one partly because they are taking their real estate advice from Acorn and other special interest group who have no clue what they are doing other than helping push draconian laws. If you look at history and the results so far there have been several government and industry programs that were designed to reverse the housing bust, slow the ballooning foreclosure rate, and keep more homeowners in their homes. None have worked on a large scale. There’s a reason: This is an almost impossible to solve difficult problem to solve. The only solution is to let the free market do its work but in an age of drive through and 3 minute coffees the American public has no patience to wait it out.
There may be as many as 5 million mortgages still at risk of foreclosure. Workouts and loan modifications may help save a small portion of them but most of them fail. They sound good and well intentioned but ultimately you are trying to keep people in their homes who can’t afford to live there in the first place. LET THEM MOVE OUT! Furthermore the vast majority of troubled mortgages aren’t held by the banks that issued them anymore. These are the mortgages that have been broken into components, bundled into securities (now derided as “toxic assets”), and sold to investors around the world. Meaning you have good debt and bad comingled together and you can’t separate them. To renegotiate any one of those mortgages requires the participation of multiple parties, including some who will lose money and expect to be compensated. With lawmakers quarterbacking this process with little oversight and accountability expect a bloody mess.
But when there is blood in the streets it’s time to buy and when the trumps are sounding it’s to sell. There is has never been a better time to get in the game as long as you do it safely, secure and very profitably and with none of very little your money. If you want to learn my techniques step by step make sure you attend the free events in:
We are a lot stronger together than we are as individuals, so come to these events and let’s see how we do business and help each other. In the meantime I invite you a free webinar tonight on the very topics I talked about in this email so you can truly understand that is going on in today’s market.
To register for the free webinar tonight sign up here
P.S. You will hear things tonight that you haven’t heard anywhere else.
Your partner and friend in success
J.T. Foxx (www.jtfoxxblog.com)