re: Has the market hit rock bottom?

Corey Frisbee — Thu, 05 Feb 2009 14:43:35 GMT

Will this news hit the main stream media??

http://frisbeepainting.com

http://frisbeepainting.blogspot.com/

re: Has the market hit rock bottom?

Debbie Burks — Fri, 06 Feb 2009 04:02:01 GMT

I see much improvement in the website......lookin good.

Thanks

Debbie

re: Has the market hit rock bottom?

Richard Stabile — Mon, 09 Feb 2009 04:42:19 GMT

The numbers what ever they may be are unbelievable. It is a national problem now and it must get fixed.

The solutions are not perfect, but we must stop the slide. The fed must keep buying mortgage paper. They also should get the refi the same streamline program as FHA should be forced upon the originating banks to refi the people without appraisal or income verification. This would help the people who no longer have equity in their homes, what to stay but must get out of a high interest mortgage.

If the fed keeps putting money into new mortgage paper with Fannies and Freddie, the money will eventually hit the market. So far it is only hitting in the conforming mortgages. I wrote about 10 weeks ago for the fed to borrow on long term treasury’s and put the money directly into new mortgages at low rates to get the market going. I also said they should provide investor financing to get the foreclosed homes bought and rented. Investor will bring a lot of capital to the market. All buyers must qualify under normal standards.

My investigation also finds the heavily hit markets are reacting to the lower prices and lower rates and volume is picking up nicely.

The banks can not get the money directly, they won’t lend or at least not at the rate and quantity we need. When a purchaser gets a mortgage, buys a property, the old mortgage gets paid off to the bank. The bank receives the money and the mortgage is retired. If the bank’s reserves are too short to retire the mortgage, that is another issue for their solvency.

This is in the works, and we will turn around!