Folks, they did it to us again... This past Thursday our Treasury Seceratary Paulson broke the news to homeowners. The 700 billion dollar bailout will not be helping homeowners in trouble after all. Instead, they are just going to give the money to banks so they can hoard it and keep their balance sheets solid.
Are we surprised? Not at all. Bailing out the banks was the intent all along. Homeowners are again left to fend for themselves. As investors, we consider this the best way anyway. These property values must be reset - but how? Aren't the banks doing Loan Modifications? Yes, a few. But why would you want a loan mod? Other than some short term relief, it locks you in to a property worth WAY LESS than what you owe on it.
So what is the answer? SHORT SALES, of course! Get rid of that property at market value, get the lender to share/take the loss. Short sales of one of the most effective yet misunderstood methods of selling property in todays' market. See our special report at http://www.78homes.com/Short_Sales.html !
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