31 Jul 08 
Help is here… or is it?
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On July 30, President Bush signed the 700 page bill “H.R. 3221″ This bill could provide $300 billion in government backed mortgages. The bill provides funding for counseling agencies, block grants for communities to buy and rehabilitate foreclosed properties, tax breaks for first-time home buyers and protections for older Americans and veterans returning from military service. This will also allow for more oversight on Fannie and Freddy. The new program begins Oct. 1 running till Sept. 30, 2011. I have heard mixed reviews from colleagues that I have spoken with about this. I am on the fence and want to know what you think?
Try to convince me on whether it is a good idea or a bad one.
- Do you think that the Government doing this is a good idea?
- Is this how we got into trouble in the first place?
- Or is this exactly what we need to boost/stabilize real estate markets?
Whoever gives the most convincing argument on either view will win a month of free advertising on the blog home page. No novels please. ; )
What say you???
