Don't you just love the federal government. The Fed made banks give bad loans to anyone who could fog a mirror, and wondered why the real estate market along with the entire economy collasped. In July Fannie and Freddie wrote all the banks with these bad debts on their books and told them to foreclose or they would be fined. Now that the crap has hit the fan, the Feds are outraged and investigating. What about the other 27 states that are not judicial states; anything being done about those bad foreclosures. It started with the Fed and Wall Street, and unfortunately Main Street is going to pay the price. If they would just get out of the way, the real estate market would right itself in no more than three or fours years. This is the fourth time I have been though a real estate crash, but this one will last a whole lot longer, I am afraid.
Heard a blip on the news today that the average person in foreclosure is staying in their house for up to 18 months free of charge. Why am I busting my butt trying to get work. We have not foreclosure work, no one can sell a house, and no one can borrow any money. Sounds like a plan to me.
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