Political Rhetoric

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Over the past several weeks we’ve heard political candidates talk about various plans to help the housing industry. What are these plans and how will they impact the housing industry?

The two ideas that are being discussed the most out there include partial debt forgiveness for mortgages that are underwater AND helping homeowners refinance.

How are these going to impact the housing industry? Probably not much as they may never see the light of day. Right now this is all talk. For something to go into effect, it has to be approved by the House and Senate. Then the President has to sign off on the proposal. Since this is an election year, it is doubtful that either side will be eager to work with their opponents in 2012. Expect stagnation (not innovation) out of DC this year through the election.

If any of these talks do signify something substantial, you know The Mortgage Blog will be all over it!

Instead of waiting for news out of DC, take a look around the current state of the market:

  • if you are thinking of buying a home, it is still a buyer’s market and rates are ridiculously low. Now is the time to get out there and take advantage of it. I can help you get started with the prequalification process.
  • if you own a home and are underwater, contact me to see if you qualify for HARP. This is a government sponsored refinance program helping responsible homeowners refinance even if they are underwater. To know more, contact me or read some of my previous posts found here and here.

If the home you are looking to buy or refinance is in the state of Georgia, I can help you get started.

Don’t get caught up in the talk going back-and-forth over the next several months. You might just miss out on the great opportunities already at hand.

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One Response to “Political Rhetoric”

  1. Diane Says:

    This HARP isn’t for everybody. I was told when I applied for HARP that there would be no credit check or other things that you would normally need for refinancing that you can be approved. THIS is NOT true!!!!

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