It is never too late to Owner Finance!

Thinking of moving?  Is your house not garnering the foot traffic you had hoped for in spite of the fact it has been on the market for 90 days? Perhaps it is the ideal time to put a sign in front of the house that says “Owner Will Finance”.  Let me explain my thinking.

We are only hours away from a crucial if not historic announcement from the Federal Reserve as it announces which direction interest rates will take.  The stock market has already factored in a rate cut from the Fed (of at least .25) and frankly would like to see more.

Although third-quarter results are due in later this week from the major brokerage houses such as Goldman Sachs, Morgan Stanley, Lehman, and Bear Stearns, these major investment banks suffered stock price drops anywhere from $.88 to $2.98 in their respective shares today.

The price of crude oil and gold are up while the Dow Jones industrials closed moderately down 39.10 (to 13,403.42) with declining issues outnumbering advancers by a rate of more than 2-to-1 on the New York Stock Exchange.

Couple that somber investment information with former Federal Reserve Chairman Alan Greenspan talking in an NBC interview on Monday in which he posits that the likelihood of an economy wide recession is now slightly larger than at the beginning of the year.

Surprisingly, the economy posted 4,000 jobs lost in the month of August.  If you had moving on your mind, it’s far better to sell ahead of the credit crunch…. than anything else.

 I think it’s time to carry back a second mortgage to get your house sold.  What do you think?

Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400   BUS  |  EMAIL   MariaFee@REMIKNOX.com
866-871-5914   BUS  | 
281-346-1300   FAX  |  WEB     www.REMIKNOX.com
 
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.

Going in the Hole at Jackson Hole, Wyoming

Going in the Hole at Jackson Hole, Wyoming

“At a central bankers’ symposium in Jackson Hole, Wyoming, Federal Reserve Chairman Ben Bernanke made clear that he was following what analysts have described as a “tough love” policy toward borrowers and especially toward lenders.” 

And thus begins the Federal Reserve System’s disorderly capitulation and rhetorical spin in reversing their two year long course of previously removing of liquidity (tighting the money supply) from the market and now in a mad rush to reinflate the banking system to stabilize the credit markets.  There is panic out there folks and Wall Street did it.  Now the credit crisis contagion has spread to Main Street in the form of tighter mortgage markets.  Regular homeowners looking to move or take a better job will not be able to sell their homes as they once thought.  <Owner Financing anyone?>

When the Reuters business desk writer Tabassum Zakaria says:

“Bush urged lenders to work with homeowners to renegotiate their mortgages to prevent default.  He called on Congress to approve legislation he proposed last year to modernize the Federal Housing Administration, which provides mortgage insurance to borrowers through a network of private sector lenders.”

…. I can’t help but think that Federal Reserve Chairman Ben Bernanke is ordering all the government arms under his control to rearrange the deck chairs on the Titanic.  Modernizing the FHA will not speak to the problem that is in the wider market now that subprime collateralized debt obligations (CDOs) genie is out of the bottle.  The financial draft horses have fled the barn and no amount of  barn”modernization” will get them back.

This business writer goes on to report:

“The FHA will soon launch a new program called “FHA Secure” to allow homeowners with good credit history, but who cannot afford their current payments, to refinance into FHA-insured mortgages, Bush said.  “This means that many families who are struggling now will be able to refinance their loans, meet their monthly payments and keep their homes,” he said.  Bush also pledged to work with the Democratic-controlled Congress to temporarily reform a key housing provision of the federal tax code to make it easier for homeowners to refinance their mortgages.”

But wait a minute?  I thought they just reported that President Bush said certain homeowners were not able to afford their current payments and now we’re going to refinance them so that they can go into deeper debt by postponing their foreclosures?  That is a curious way to put off the inevitable until the next election cycle!

Repeat after me, I’m from the government and I’m here to help you….

You can read about it here:  http://biz.yahoo.com/rb/070831/bush_subprime.html?.v=9

Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400   BUS  |  EMAIL   MariaFee@REMIKNOX.com
866-871-5914   BUS  | 
281-346-1300   FAX  |  WEB     www.REMIKNOX.com
 
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.