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Foreclosed Homes – What’s Next From The Feds?

With health care behind them congress is moving on to the foreclosure problems. Word is they feel it might get back some votes they will be losing because of their last vote.

The Feds did have a program in place for the last year trying to help people with too expensive mortgages. However, reports coming out of Washington show they helped only about 20% as many people as they hoped. That’s certainly no way to get votes.

Preliminary talks center on more government control of the program. It seems lenders weren’t real crazy about lowering payments for people out of work. I can see the logic, but congress cannot.

If history repeats itself there will soon be a law granting the federal government huge control over the “almost” forclosed homes market. And, when it comes to congress, history often repeats itself.

March 31st, 2010

Posted by admin in Real Estate | No Comments »