Foreclosure Fire sale....?

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Mortgage and Lending with Your Financial Coach

Ok, the Bail out bill was passed and now goes to the house for a vote. it will probable pass. So, what will the banks now be doing with all the Foreclosures? Now that they will be able to free up some cash to make more loans...that will help loosen up the lending a bit and more likely to head back into the stated loans.

But what about Foreclosures? Will they be able to let more foreclosed properties go? How about the Short Sales? Will they be more willing to work with people and the Realtors on short sales?

I think yes, now that they have some guidence and know where they are going, it should be alot easier to make a decision to down load them, becasue they will know exactly what Freddie and fannie are going to take and what they won't take.

So, what is your take on this?

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Rainer
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Debi Ernst
St. Charles County, Missouri - Prudential Alliance Realtors - O'Fallon, MO
GRI, e-PRO, Broker/Sales Associate

Chuck - I have no clue.  I'm pretty much waiting and seeing what happens...  :)

October 02, 2008 01:55 PM #1
Rainer
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Chuck Christensen
Your Financial Coach - Bellingham, WA

The house has now approved the new bill. Time to get your Buyers off the fence! Be a Hero, get them a good deal and you will be a Hero! And heroes get all the referals.

October 03, 2008 12:39 PM #2
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Rainer
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Chuck Christensen

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