Sorting out the mortgage crisis and the onslaught of home foreclosures are at the top of the long list of challenges President Barack Obama is already tackling his first week in office.
Obama promises to “approach the old challenge of affordable housing with new energy, new ideas, and a new, efficient style of leadership.†Yes, big “changes†are coming to the real estate market, but what are they, how will they be executed and when?
Everyone—homebuyers, sellers, real estate investors included—is anxious to see if Obama’s much-hyped promises for “change†will revive the faltering housing market.
Here’s the scoop on the Obama’s expected impact on the housing sector—straight from the latest real estate headlines. What’s on the horizon homeowners and buyers and investors?
1. Historically high foreclosure investment opportunities – The housing market continues to plummet following two years of declines. The up side? The number of foreclosures—well above three million—is at a record high. For homebuyers and investors that means more foreclosure inventory than ever before and increased potential for profit. Click here for my exclusive list of foreclosures now—even BEFORE they go on the market.
2. Asset and mortgage crisis relief – President Obama is being pressured to provide emergency aid to homeowners facing foreclosure and/or repossession, reaching beyond the Bush administration’s voluntary renegotiation policy.
Meanwhile, the Senate has already approved another $350 billion slice of the Troubled Asset Relief Program, on the condition between $50 billion and $100 billion is spent on anti-foreclosure programs. Also, Democrats are pressing for bankruptcy judges to be allowed to change the terms of mortgages to help homeowners. Click here to learn how I can help you or someone you know now. No gimmicks. No pressure. Just help.
3. Advocacy for affordable housing – Obama has appointed Shaun Donovan, New York City’s housing commissioner, as the Housing and Urban Development Department member of his Cabinet. Donavan is a former Clinton administration aide with a national reputation for developing affordable housing.
4. Deciding the fate of mortgage lenders – The Obama administration is faced with how to restructure the troubled mortgage-lending sector. Will Obama force lenders’ hands on modifying mortgage terms? We’ll keep you posted.
Don’t forget to sign up for VIP access to my exclusive foreclosures list, plugging you into critical information on several incredible properties BEFORE they hit the market.
Sincerely,
Mark Shandrow
REO Broker-Associate
Keller Williams Realty
markshandrow.com
Stay tuned to MarkShandrow.com for more breaking real estate news as we continue our coverage.
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