remaxjon
07-22-2008, 11:13 AM
I know many of you will be for this but its really a matter of to much to quickly and will cripple an already weak industry.
http://www.washingtonpost.com/wp-dyn...d=sec-business
With just about all of the 100% finance programs gone many people's only chance at home ownership was with FHA downpayment assistance. It appears that these programs will be gone in the next week or two. I urge all of you to contact your representative and let them know you want to keep the program. This is not a matter of tuff medicine that is needed in the housing market. In my opinion this will cripple the housing market even more.
We currently have a bottom up problem with the first time buyers not being able to qualify for a loan and thus the people who want to sell and move up cannot. If this does pass and all indications are it will my guess is that we will see another large drop in value and the dream of homeownership for many will be lost. We are currently in the process of going from one extreme of everyone can buy to another extreme of no one can buy. If you currently own a home and don't want to see your value drop even more or plan on buying a home this effects you!
http://www.washingtonpost.com/wp-dyn...d=sec-business
With just about all of the 100% finance programs gone many people's only chance at home ownership was with FHA downpayment assistance. It appears that these programs will be gone in the next week or two. I urge all of you to contact your representative and let them know you want to keep the program. This is not a matter of tuff medicine that is needed in the housing market. In my opinion this will cripple the housing market even more.
We currently have a bottom up problem with the first time buyers not being able to qualify for a loan and thus the people who want to sell and move up cannot. If this does pass and all indications are it will my guess is that we will see another large drop in value and the dream of homeownership for many will be lost. We are currently in the process of going from one extreme of everyone can buy to another extreme of no one can buy. If you currently own a home and don't want to see your value drop even more or plan on buying a home this effects you!