If the Speaker of the House, Pelosi, would do the same caliber of work as she does being a grandmother of five, and if Congress would take a time out from the partisanship we would have a chance to address the problem.

Do you know what the real problem is after all the hype of the credit market seizures and floundering banks? The real problem at the end of the day is the excessive housing inventory. Yes there may be many other issues in between but this one shows the door to the future and ultimately to a recovery. Harry Homeowner and Friends are the ones that will be buying up the housing inventory one by one over the next several years. If money market accounts are breaking the buck, and the stock market is eviscerating their savings and 401K’s before their eyes, the chances of the inventory level improving at some point is nil.

Yesterday our Full Service at The Negotiated Solution had a contract for a moderately priced condo in excellent conditional fall out. The buyer was due to close in five days but after seeing the S & P 500 drop 8.9% and the Dow plunge 770 points he panicked and called his financial advisor. The advisor said not to buy anything in this market regardless of how much you like the property. Now you see the problem. It’s a confidence issue.

Perception is becoming reality on Main Street even if it is just fear based and not reality. If people don’t feel comfortable that their money is safe in their bank, and they are scared to death of financial loss or job loss, we have a massive problem in housing with no cure.

The government is on the right track but we don’t need perfection at this time. We need anything and everything that will constructively restore order and bring down the credit spreads so banks will lend again.

Please write your Congressman and tell them it time to get on board for the middle class and to stop preaching false hope and partisanship. This is a time for action and nothing else. Properly laying the foundation to address the excessive housing inventory is the end game.

GHunter

The full brunt of the housing crisis and mortgage meltdown are upon us. Many are obsessing over their problems and anxiously waiting to see if Uncle Sam will come to their rescue with a new program that makes all their troubles disappear. Don’t count on it.

If I may, let me put all the partisan politics and tap dancing for photo ops on the part of Congress aside for you and tell you where you stand. The government is going to save the free market without question. However, you as the distress homeowner are on your own.

Let’s telegraph back to the governance issues a few years back involving Fannie Mae and Franklin Raines as the CEO. Didn’t we find out abruptly that 11 billion dollars was missing or was that flat our fraud? Your Congress didn’t really want to investigate the full extent of the problem then because their meddling would have been exposed. In fact, a full investigation at that time would have completely exposed the lack of prudent underwriting guidelines and excessive risk being assumed by the entities. This would have averted a good portion of the major systemic credit issues we now face.

It is much more advantageous for Congress to posture as the appalled after giving the good Treasury Secretary Paulson the “Bazooka” and then watching him expeditiously use it after Morgan Stanley investigated and determined the Fannie Mae capital structure was a house of cards. As a lender delivering loans to Wall Street, it was obvious in the 3rd & 4th quarters of 2005 that we were heading for potential disaster.

Now I ask you to consider who is going to have the individual homeowner’s best interest at the forefront, you or the government? I think the answer is pretty clear as we see great companies get hurt and Congress point fingers and claim to represent us as our gallant saviors. Congress and the specific regulatory leadership should be ashamed and collectively impeached for being out to lunch.

Take care of your family and find your own solution. You don’t need any new legislation or unusual favors to benefit with a Short Sale Solution today.

If you are one of the affected homeowners you can choose to be a Sheep or a Wolf. The two are only separated by knowledge as it pertains to this crisis. Learn the ways of the Wolf and Win!