The current main problems in the real estate market:
1. Properties are upside down, many with loans that are adjustable and home owners are forced to decide if it is worth keeping their home or facing the consequences of a foreclosure on their credit.
2. Foreclosures are pushing property values down for the homes in the neighborhoods, so that many people who would sell or refinance can’t get value.
3. Banks are holding on to foreclosed homes longer then they should, with the homes not being kept up and driving property value down farther.
4. People are foreclosing, properties are sitting vacant for 6 to 18 months and no HOA fees or propert...
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...A fees being paid to the state and developments/condos monthly
7. Rebuilding community pride and revenue for small businesses
8. Create jobs for property management companies, title, small businesses and state
It is time to change with the times and how we view lending. There are many factors in this proposal that still need to be addressed. This is an innovative idea that if we all work together for a better tomorrow the American Dream can come alive once again for every American citizen who can stand up and claim their right to pursue happiness by being able see the light at the end of the tunnel. I hope with all of my heart that this is at least considered to see the possibilities of how it can work to slow down the amount of current foreclosures, stop the decline in lower property values, bring in monies monthly for lenders, and create jobs.
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