{"id":62,"date":"2008-08-12T03:21:25","date_gmt":"2008-08-12T08:21:25","guid":{"rendered":"https:\/\/number1homeagent.com\/index.php\/2008\/08\/12\/the-homeowner-rescue-bill-rescues-fannie-and-freddie-investors\/"},"modified":"2008-08-13T03:06:06","modified_gmt":"2008-08-13T08:06:06","slug":"the-homeowner-rescue-bill-rescues-fannie-and-freddie-investors","status":"publish","type":"post","link":"https:\/\/number1homeagent.com\/?p=62","title":{"rendered":"The Homeowner Rescue Bill Rescues Fannie and Freddie Investors."},"content":{"rendered":"

\"Pinch<\/a>\u00a0<\/p>\n

The Homeowner Rescue Bill Rescues Fannie and Freddie Investors.\u00a0 I don’t see any other groups being rescued.<\/p>\n

Normally I don’t find it difficult to disagree with President George W. Bush about pretty much everything (save the curvature of the earth and that humans should breathe oxygen).\u00a0 This time it is different.\u00a0 Bush had to have been ashamed to have signed it<\/a>.\u00a0 Just look at how it is buried on this page<\/a>.\u00a0 Arizona Senator John Kyl<\/a> was one of the 13 dissenting votes<\/a>.\u00a0 Kyl even called a close Realtor friend of mine here in Arizona to explain why he could not vote for it – that it was simply an awful piece of legislation.\u00a0 It is supposed to help save 400,000 people from going into foreclosure.\u00a0 If that was really the purpose, considering how much it will cost (800 billion<\/em> dollars), It would have been a lot cheaper to have a lottery and simply select the 400,000 supposed lucky ones and just buy their home for them.<\/p>\n

But that really isn’t the purpose at all.\u00a0 It is the Fannie Mae –\u00a0 Freddie Mac Bail Out Bill.\u00a0 That is why Bush signed it.\u00a0 He accepted all that other crap so he could do what he had to do to keep Fannie & Freddie afloat.\u00a0 What I don’t understand is why (in the final form it passed in) the NAR backed it.\u00a0 Unless we are to assume that anything that gives any<\/span> Realtor anything is “good” – no matter the cost, this one just makes no sense.<\/p>\n

My office already has had sellers who need to do a short sale either take their home off the market or fail to let agents and buyers show their house.\u00a0 No need.\u00a0 The government is here to help them.\u00a0 If foreclosures are estimated to be in the range of 5.5 million between now and the end of 2010 how does “fixing it” for 400,000 solve anything?\u00a0 And don’t be surprised if there aren’t 400k people (not counting FNMA and FRE stockholders) who get helped at all.\u00a0 I predict less than half of the estimated 400,000 will have anything other than foreclosure or a short sale occur.<\/p>\n

The change that will hurt the Phoenix market the most is the complete elimination of the AmeriDream<\/a> and Nehemiah<\/a> programs.\u00a0 Effective, October 1st – they are gone.\u00a0 Currently, those seller-funded down payment assistance home sales account for about half<\/span><\/em> of all the homes being sold here.\u00a0 If it had to go away, now<\/em> of all times?\u00a0 Homeowner Rescue Bill, my ass.<\/p>\n

Loads<\/a> of other stuff.\u00a0 Thanks for nothing, Barney<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 The Homeowner Rescue Bill Rescues Fannie and Freddie Investors.\u00a0 I don’t see any other groups being rescued. Normally I don’t find it difficult to disagree with President George W. Bush about pretty much everything (save the curvature of the earth and that humans should breathe oxygen).\u00a0 This time it is different.\u00a0 Bush had to have been ashamed to have signed it.\u00a0 Just look at how it is buried on this page.\u00a0 Arizona Senator John Kyl was one of the 13 dissenting votes.\u00a0 Kyl even called a close Realtor friend of mine here in Arizona to explain why he could <\/p>\n

Read More<\/a> <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-62","post","type-post","status-publish","format-standard","hentry","category-government"],"_links":{"self":[{"href":"https:\/\/number1homeagent.com\/index.php?rest_route=\/wp\/v2\/posts\/62","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/number1homeagent.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/number1homeagent.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/number1homeagent.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/number1homeagent.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62"}],"version-history":[{"count":0,"href":"https:\/\/number1homeagent.com\/index.php?rest_route=\/wp\/v2\/posts\/62\/revisions"}],"wp:attachment":[{"href":"https:\/\/number1homeagent.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/number1homeagent.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/number1homeagent.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}