Will New President Barack Obama help our economy and foreclosures?
It has been a long exalting campaign for both senator Obama and senator McCain. But American’s have decided and voted into the white house Barak Obama. It has been a historic electionbegining with having the first black President. Years ago when a preacher and activist from Atlanta, Georgia named Martin Luther king said I have a dream that a man be judged not by the color of his skin, but by the content of his character. That dream was fulfilled today. President Obama has many promises but will it help many of the family’s facing foreclosure?Will it help small businesses and middle class to continue to grow? Here are the important points that he proposed for our Nation’s Economy and the progress of our country. Click here full economy plan.
Protect homeownership and crack down on Mortgage Fraud.
Obama and Biden will crack down on fraudulent brokers and lenders. They will also make sure homebuyers have honest and complete information about their mortgage options, and they will give a tax credit to all middle-class homeowners.
- Create a Universal Mortgage Credit: Obama and Biden will create a 10 percent universal mortgage credit to provide homeowners who do not itemize tax relief. This credit will provide an average of $500 to 10 million homeowners, the majority of whom earn less than $50,000 per year.
- Ensure More Accountability in the Subprime Mortgage Industry: Obama has been closely monitoring the subprime mortgage situation for years, and introduced comprehensive legislation over a year ago to fight mortgage fraud and protect consumers against abusive lending practices. Obama’s STOP FRAUD Act provides the first federal definition of mortgage fraud, increases funding for federal and state law enforcement programs, creates new criminal penalties for mortgage professionals found guilty of fraud, and requires industry insiders to report suspicious activity.
- Mandate Accurate Loan Disclosure: Obama and Biden will create a Homeowner Obligation Made Explicit (HOME) score, which will provide potential borrowers with a simplified, standardized borrower metric (similar to APR) for home mortgages. The HOME score will allow individuals to easily compare various mortgage products and understand the full cost of the loan.
- Close Bankruptcy Loophole for Mortgage Companies: Obama and Biden will work to eliminate the provision that prevents bankruptcy courts from modifying an individual’s mortgage payments. They believe that the subprime mortgage industry, which has engaged in dangerous and sometimes unscrupulous business practices, should not be shielded by outdated federal law.
Support Small Business
- Provide Tax Relief for Small Businesses and Start Up Companies: Barack Obama and Joe Biden will eliminate all capital gains taxes on start-up and small businesses to encourage innovation and job creation. Obama and Biden will also support small business owners by providing a $500 “Making Work Pay” tax credit to almost every worker in America. Self-employed small business owners pay both the employee and the employer side of the payroll tax, and this measure will reduce the burdens of this double taxation.
- Create a National Network of Public-Private Business Incubators: Barack Obama and Joe Biden will support entrepreneurship and spur job growth by creating a national network of public-private business incubators. Business incubators facilitate the critical work of entrepreneurs in creating start-up companies. Obama and Biden will invest $250 million per year to increase the number and size of incubators in disadvantaged communities throughout the country.
Would Obama’s economy plan work? Only time could tell. The truth is we’re in one of our nation’s worst economy, unemployment rate is at an all time high and Foreclosures continue to rise. We need banks to cooperate alot more than what they have. We need homeowners who are in foreclosure to have their mortgage readjusted to market value and continue and maintain interest rates low. It is going to be a huge challenge for Barack Obama i hope the change he promised can be fulfilled not just for us but for our children.
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Why you should be more involved in your Neighborhood Foreclosure.
Why you should be more involved in your Neighborhood Foreclosures.
Foreclosures are increasing at a rapid pace and more properties are in the market today than the previous 3 years. Because of such of increase in such a rapid pace many lenders, borrowers and neighborhoods are slow to adapt to the new Real Estate Market. Purchasing Miami Foreclosures can have many benefits such as buying below market value, closing in 30 days, affordable homes, but as there’s a benefit there’s also draws backs that foreclosures have in a neighborhood. Here’s why you should be more involved in your Neighborhood foreclosures.
Insect haven
Many Miami Foreclosures today are vacant and can have attracted many unwelcome visitors. I have been to Miami Foreclosures where as I’m entering the property I observe a manifestation of all type of insects having a cat for a meal. Not to mention the odor that’s being released from a dead cat can leave you with a memorable experience.
Pools are enjoyed and can be the center piece for family reunion or get together. Many homeowners who are forced out due to foreclosure leave the pool unclean and unmaintained. Now many neighborhoods are witnessing green pools and unkempt homes. Green pool can be the breeding ground for millions of potentially disease carrying mosquitoes more reason why to call health officials as soon as you see a green pool.
Foreclosure nightmare
As I’m viewing the home and I’m entering the back room my heart suddenly stops cold I couldn’t hear or move a muscle. I immediately turned pale white it seemed as if I saw a ghost or the image of GOD himself. I was speech less and began to sweat. As I am trying to get a grip on myself I decided to say a word. After a long 10 seconds which seemed like 5 hours I suddenly whisper in a freighted tone “Don’t worry I am just seeing the home”. And I began to back pedal slowly until I rushed to the front door. There was a group of guys they seemed homeless smoking a substance that is not legal here in the states. I quickly left the home still shocked and regretting not calling the police. I began to think about the outcome if it was my assistant Maria showing the home or a neighborhood teenager being curious would the outcome be different I hope not. But Vacant homes is not a bank problem it is everybody’s problem.
Solution:
You as a home owner or neighbor should have a list of Neighborhood Foreclosures in your area not less or more than a mile from your home in all directions. The homes within a mile are the homes that affect your neighborhood the most. Visit the homes and make two categories. Your first a category should be the homes that are being sold from a private seller and the other category should be the homes that are bank owned, foreclosures, or short sale. Once you identify the Miami Foreclosurethat are vacant make it a routine to drive by and inspect the property. * Please note direct neighbors are sometimes the best alliance because it affects them directly. If homeowners or neighbors are not interested call the city code enforcement department they will love to assist you they will penalize the homeowner and the bank where it hurts them the most. So get them involve keep them inform of the drawbacks and danger of having an unkempt home. This is a neighborhood effort and can only be accomplished as a Team. In california a Real Estate Agent got rape and stab Read more.
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