$1.7 Billion of Tax Payers Money to Stop Foreclosure Crisis

June 9, 2008

Currently, there is a bill in Congress that could change the financial futures of 500,000 homeowners. For these individuals who are facing foreclosure, the bill could have significant influence. Since the bill has already passed in the House, chances are good that the bill could go into effect, helping the financial situation of half a million homeowners facing a potential foreclosure.

The bill would allow borrowers who were struggling with their monthly mortgage bills to refinance easily. They would be able to see more affordable and more financially stable mortgage choices through the use of federal aid. They would get a mortgage that was federally guaranteed by the government.

This bill has been created to help only homeowners avoid foreclosure. If an individual is an investor or speculator, they are not eligible for help with this home financial situation. Specifically, this bill is set to help the homeowners who are doing their best to cover their mortgage payments, but falling short due to unrealistic settings, not the speculators who are trying to make more money in the real estate market.

There is a catch to the federal bill, however. If the homeowner takes advantage of the effort and aid given by the government, the homeowner will have to split any future home profits on the sale of the home in half with the government. For those homeowners who do not plan to move from the home for quite some time, this is less of an issue than for those homeowners who plan to move from the home in 3 to 5 years. Cutting the profits from the sale of the home in half can have a significant impact on the homeowners profit margins, especially since most individuals see the majority of their equity in the home they own.

There are arguments from taxpayers as well, and for good reason. The bill will cost taxpayers 1.7 billion dollars, according to the Congressional Budget Office. Although the price seems high, it could have been worse when you analyze the impact of increased foreclosures in the country. However, many taxpayers are arguing that we are having to pay for the mistakes of these individuals who took a mortgage when they were not eligible and the taxpayers are paying for the mess now. In essence, the taxpayers argue, they will be paying for the greed of the financial institutions whose unrealistic mortgages and subprime interest rates attracted the wrong individuals to purchase a home.

However, foreclosures can have a tremendously negative impact on the economy and the overall quality of life in an economy with higher foreclosures will drop significantly. Rising foreclosures erase future profits in nearby properties and in the economy overall. This bill has been created to avoid the big picture fallout that occurs when more and more foreclosures happen in the real estate market. The sacrifice is the taxpayer dollars to help alleviate whatever economic crisis would have evolved from the higher number of foreclosures. Something needs to be done to prevent more foreclosures and this bill is the band aid that is thought to alleviate and reverse the trend in foreclosures.

So the Question is, as a tax payer do you agree that we have some responsibility to help out the over 500,000 home owners who are facing foreclosure and saying, how can I sell my house fast? Are you comfortable with our tax dollars helping stop the foreclosure crisis?


Foreclosures Up 23 Percent – Sell My House

May 2, 2008

The 2008 first quarter results are in and they do not look good. Foreclosures are up 23 percent from the first quarter in 2007. This marks record foreclosures across the nation. Now one in every 195 house holds is in some sate of foreclosure.

We are only four months into the year and already over 156,000 home owners have lost their homes to foreclosure. The real scary thing is that the foreclosure rate is not slowing down, it is actually speeding up. This means we will see more foreclosures each and every month. There were only 4 states in the nation that did not have increasing rates of foreclosure.

So where are the hardest hit areas? Nevada, California, Florida, and Arizona top the list with the largest amount of foreclosures and the trend does not look to be slowing anytime soon. One out of every 54 homes in Nevada is in a sate of foreclosure. This is amazing considering they are still one of the fastest growing cities in the nation. Many people moving to Las Vegas and other areas of Nevada are renting until they see the market bottom.

Many people are wondering if the newly passed government programs created to help stop those falling into foreclosure is helping. Despite all the effort the government has been putting into new bills and laws to help stop the foreclosure nightmare, it just does not have a chance against all the default loans. It is like sending trying to stop a freight train with one box car. The laws that are being created are taking time to create and are only helping a few home owners. They have no chance stopping the foreclosure momentum.

Even more disturbing is the fact that over 360 billion dollars worth of mortgages with adjustable interest rates is going to reset in 2008. This is only going to increase the number of foreclosures across the nation.

So what can you do if you live in Las Vegas, Stockton California, Detroit, or any other area and you are starting to loose your house to foreclosure. There is a simple and easy answer, sell your house. Now you might say, easier said than done right? Well it is in fact that easy. Even though there are not many home buyers looking for houses you still can sell your house.

The best way to sell your house if you are falling behind on payments or see the foreclosure monster coming your way is to contact a local professional home buyer. You see, there are many ways to sell houses and professional home buyers make a living from helping people sell their house, at no cost to you I might add.

Even if you owe more for your house than what it is worth, you can sell your house. Local home buyers will work with the banks to release the loans against your home and they will buy it from you, all this at no out of pocket expense. The problem is many people do not realize that professional home buyers exist, they think the only way to sell a house is through a realtor or for sale by owner, not true.

So, if you need to sell your house to stop foreclosure contact your local home buyer and receive a free offer on your house today. If you contact them today you could have an offer on your house within 48 hours. They can explain to you your home selling options and possible solutions. Then you just choose the right one for your situation.


Sell My House – How Much Is My House Worth – Get My House Value

April 28, 2008

Given the recent decline in the real estate market many home owners are wondering how their homes value is holding up and how it has been affected.
 
Now days there are great ways to tell your homes value but you have to know which ones you can trust, which ones are accurate, and which ones are quick and easy.
Here are the fastest and easies ways to find out what your house with worth if you were to sell it today.
 
The best and fastest way to find out what your property is worth is to complete a quick online form to receive an offer from your local home buyer. Many people do not realize that local home buyers exist in every major metropolitan area across the United States.
 
The easy online form will take you less than 1 minute to complete and is very quick. Once you complete the online form your information will be forwarded to a professional local home buyer in your area that is very knowledgeable with your local real estate economy. You will typically be contact within 48 hours to give you details on how much your house is worth if you would like to sell it today.
 
The offer you receive is a no obligation offer and all your information is confidential. Most often attached to the offer will be a market analysis showing houses that are similar to  yours that have sold in the last 3 months. If you want to know your homes sales price would be if you sold your house today, contact your local home buyer and receive a free offer.  
 
Many people like to find out what their house is worth by driving their neighborhood to see how much their neighbors are selling their houses for. The problem with this method is every house is different and most people make the mistake of looking at active houses on the market for sale.
 
When you determine your homes value you need to consider what homes have sold for in the past, not what they are currently on the market for today. Many times the asking sale price of a home is not what the home actually will sell for. Especially in this real estate market where home buyer are offering low ball offers to see how much of a discount they can get.
 
Another way people try to determine the value of their house is to look up their tax assessed value of their home. The value of the home is based on two numbers, the land value and the home or structure value. Many tax assessors estimates are not accurate and are either over or under estimated.
 
If you are wondering how can I sell my house and you need to know how much your house is worth, contact your local home buyer. It is the fastest and easiest way to determine your homes value with no obligation or effort.  


What is My Property Worth and Who Will Buy My House

April 23, 2008

It is happening again. Every three to five years the real estate market goes through another cycle and pessimism creeps into many. When the market is going down is it mostly caused by demand for new houses falling. The continuation in falling housing prices changes the psychology of home buyers so they stop buying. This process further decreases home prices and the real estate market.

Recent surveys by many consumer groups are reporting that consumer confidence is decreasing, foreclosures are rising and homes fore sale are sitting on the market longer. This all plays into the psychology of home buyers. People do not want to purchase a home if the value is going to continue to decline.

So, what does this mean for the average home seller? Well if you do not have to sell you are in good shoes. You can wait for another two to five years for the market to bottom, then wait for another three to five years for the market to come back up, then sell. So if you can hold out for seven or so years in your current home, you are in ok shape.

The major problem is life happens and for what ever reason people need to sell their house. Could be divorce, lingering foreclosure, job relocation, family issues, ready to cash out of an investment, health issues, the list goes on.

For those home owners who need to sell, you are in a harder home selling situation. You can not afford to wait for seven or so years for the real estate market to come back around. The good news is there are still ways in this slow real estate market for you to sell your house and move on with your life.

It doesn’t matter if your home is over financed or you have lots of equity. There are still home selling solutions that can solve your particular selling need. The first question you are probably asking is how can I sell my house if I have no equity. Well for this reason professional real estate investors exist in every major city in the nation.

Professional real estate investors exist throughout the country to solve complicated real estate problems. Yes they do have to make a profit to keep their business running but that does not mean they are going to steel your house. Many professional long term real estate investor just want to add to their real estate portfolio and hold properties for long term.

As a home seller in this real estate market I know you have other questions like how do I find out how much my house is worth, or how much is my property worth?

Well, probably the largest benefit from contacting your local real estate investors or home buyer is to find out how much your house is worth with no obligation to sell your house. In fact you can input your information over the internet and receive a home value and offer in less than 48 hours.

So the first step in find a solution to your home selling need should be to contact your local home buyer who is an active buyer in your neighborhood to determine your best selling solution. They will give you a free, confidential, no obligation offer for your house and you will know how to move forward.