Welcome!
AT LAST!! I've been waiting for someone on the Hill to take this on again since the last time it was presented and killed off by the banking lobby. Lets see if there are a sufficient number of representatives to do something for the American consumer this time. Lenn Harley Broker Homefinders.com http://homefinders.com
One of the agents in my network was recently successful with a high end bank owned property in Northern Virginia. Theirs was not the highest price offer, but it was clearly the best prepared with full documentation for financing, direct lender, financial statement, scheduled home inspection, non-contingent, etc. Sometimes a well prepared contract offer will beat out higher offers with "dings" in the package. Lenn Harley Broker Homefinders.com http://www.homefinders.com
This is the most responsible and insightful article I've read (that I didn't write) about our current crisis. Not understanding that the average home owner, through negative equity, is a captive to their home mortgage avoids one of the primary causes of defaults and foreclosures. All the talk about refinance is worthless if the house doesn't appraise. Home owners cannot sell if the house will not appraise. The American home owner has lost their family security through the loss of home equity. Thanks for understanding. You are smarter than the average bear. Lenn Harley Broker Homefinders.com http://www.homefinders.com