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Coeur d'Alene Real Estate - Community Events: Here a Crock, there a Crock, everywhere a Crock, Crock!!!

Government Spending - Economic Recovery ActSo sorry, but I have to vent about this.......

CROCK #1:
The $7500 Buyer Credit has turned out to be a crock!  Yes, you can get it if you buy your first home (or buy one after not having owned one for 2+ years).  However, you will NOT get it in time to use as your down-payment!  Buy the time a buyer receives it... it's too late.  Yes, you could use it to eliminate some debt but we all know that it is alot more interesting to purchase that new motorcycle, big screen TV.... etc. etc....   So the claim that it is for "Helping" Buyers get into homes is a CROCK .. It's to help them build more debt - They have to pay back the $7500 in 15 years!  So, more debt unless they pay off their current debts with it.

CROCK #2:
I know I'm not the only one that would love to be able to direct those in need to a way to SAVE their homes, not to mention their credit.  So, when I heard about the new "Economic Recovery Act" and how it has given the State of Idaho $100,000,000 to help homeowners that ended up with those "SubPrime" loans I was elated and put the word out!

WELL... here comes the "CROCK"  on this one... The only homeowners that will qualify are those that still have good credit.   You know... their rate has not yet adjusted and they already know they will not be able to afford the new adjusted payment... What about those that need it NOW!!! You know, those that are struggling to make that new adjusted payment and will end up in foreclosure it they don't get help NOW...  They seem to be out of luck.

And just try to find out how you can get the help from the $100,000,000 allocated for Idaho....  No one seems to know what to do, where to start or how to do it!  Is it just me, or does anyone else get the feeling that allot of this money is going to go to Bureaucracy and not into the hands of those that actually need it?

NOT a CROCK: Finally something REAL and Tangible to help get buyers into homes ( or refinance at an affordable rate) and sellers out of theirs!  The recent changing of the guards of Fanny Mae & Freddie Mac has resulted in "The interest rates are dropping"!  3/4 points now and more to come. Not a CROCK like the nearly useless "Credits" and "Recovery" acts..... 

Thanks for letting me vent!  Oh, and if I am wrong about any of the above or you have any answers, please, please .... Please let me know!

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Update:  I have found the info needed to STOP FORCLOSURE and "Modify your Loan" to to my blog at:

URGENT! Distressed Home Owners / Seller's - Follow these Steps to Avoid Foreclosure and "Modify your Loan" - Effective Immediately - It's LAW!

Please contact me with any of your Real Estate / Relocation / Referral needs:

Coeur d'Alene, Idaho - City by the LakePam Jank, Realtor, GRI, CRS, ABR, RRS, PPS
Your North Idaho Real Estate Pro
FREE MLS Listings Search at:
Web:  Coeur d'Alene Idaho Homes for Sale
email to:pamjank@hotmail.com
Phone:  208-661-2282
Fax:  208-772-628 Toll Free:  800-829-2555 EXT.1275
COLDWELL BANKER SCHNEIDMILLER REALTY
435 W. Hanley Avenue
Coeur d'Alene, ID  838315

 

 


CONTACT INFO:

Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)
Your North Idaho Real Estate Pro
www.SellingNorthIdaho.com - Your Free Local MLS Property Search Link
208-661-2282 or Toll Free 800-829-2555 ext. 1275
Coldwell Banker Schneidmiller Realty
1924 Northwest Blvd, Coeur d'Alene ID 83814
 

 

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 Lake Coeur d'Alene

Comment balloon 12 commentsPam Jank • September 11 2008 07:35PM

Comments

Active Rain is the best palce to vent that I have found!

Posted by Dinah Lee Griffey, Managing Broker Windermere Peninsula Properties (Windermere Peninsula Properties) almost 10 years ago

Active Rain is the best palce to vent that I have found!

Posted by Dinah Lee Griffey, Managing Broker Windermere Peninsula Properties (Windermere Peninsula Properties) almost 10 years ago

Pam, if I start to think about all of the financing recovery, programs, bailouts out there I won't sleep tonight!

Posted by Debbie Malone, From Lynchburg To The Lake (434) 546-0369 (Londeree's Real Estate & Property Management) almost 10 years ago

Debbie, I know what you mean.  I'm already not sleeping.  If any of them worked I could probably sleep.  

Also, I enjoyed reading and commnting on your post: Project 2996 - Honoring the Victims of 9/11 what a great way to honor and remember such a remarkable woman!

Posted by Pam Jank, Your Coeur d'Alene & North Idaho Real Estate Pro (Coldwell Banker Schneidmiller Realty) almost 10 years ago

Dinah, Yes, it's good to rain!

Also, I enjoyed and commented on your post Pick a color any color  color can make or break a sale!

Posted by Pam Jank, Your Coeur d'Alene & North Idaho Real Estate Pro (Coldwell Banker Schneidmiller Realty) almost 10 years ago

Pam, When they figure out how to get this money to the people that actually need it let me know.  I'd like to be able to pass on the information to those that need it.

Posted by Tim Jank (Jank & Associates) almost 10 years ago

Pam, loved your Croc post!  One of these days we really do have to meet.  I have a feeling we might actually hit it off!

Posted by Janna Scharf, Coeur d'Alene Idaho Real Estate Expert (Keller Williams Realty Coeur d'Alene) almost 10 years ago

Janna, I think we brushed past each other at the Downtown Office once... But no time to chit chat.  Maybe I'll see you at the pre Extravaganza meeting this morning.  I'll look for you!   Or, do you want to relieve me at one of my Open Houses??  I'm juggling 2-today.

Posted by Pam Jank, Your Coeur d'Alene & North Idaho Real Estate Pro (Coldwell Banker Schneidmiller Realty) almost 10 years ago

Pam, Has anyone figured out how to get hold of the Economic Recovery Act Funds yet?  Let me know what you find out.  Thanks

Posted by Tim Jank (Jank & Associates) almost 10 years ago

Tim, if I were you I wouldn't be holding my breath!

Posted by Anonymous almost 10 years ago

I certainly hope that is not the case.  So many people need this help RIGHT NOW... 

Posted by Pam Jank, Your Coeur d'Alene & North Idaho Real Estate Pro (Coldwell Banker Schneidmiller Realty) almost 10 years ago

UPDATE: I have found the info and steps you need to go through to Stop your Foreclosure and "Modify your Loan" go to my blog at: URGENT! Distressed Home Owners / Seller's - Follow these Steps to Avoid Foreclosure and "Modify your Loan" - Effective Immediately - It's LAW!

Posted by Pam Jank, Your Coeur d'Alene & North Idaho Real Estate Pro (Coldwell Banker Schneidmiller Realty) over 9 years ago

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