A Home Beyond Sub-Prime
It’s tempting to write about the negative news and the continued failure of banks due to the liberal lending practices that have contributed to crippling our financial institutions. The negative real estate news is compelling and fascinating but with a little reflection too easy to keep perpetuating. No need to “retweet”.
We are in a very sad state of financial disarray yet there is an explosion of new industries making enormous amounts of money on the demise of homeowners and their inability to pay back their loans. It seems everybody has jumped on the band wagon that these people some how deserved to lose their homes. In my opinion, the loss was not deserved. There were many well intended borrowers who were convinced that a risky loan would best serve them. What they didn’t realize is that the high fees and punitive pre-payment penalties associated with these risky loans served the loan brokers and lending institutions “best”. Add to that the many borrowers who were well qualified when they received their loans have now lost their jobs or have had a significant change in income due to the current economic environment. (More news to follow on job losses this week….)
Therefore, I am making a commitment to writing about positive real estate stories-beyond the pervasive sub-prime news. So, if you are familiar with an area that seems to be beating the odds with strong home sales or if you have a great positive homeowner story or memories, feelings, thoughts about a home or homes that have positively nurtured you and your families spirit, enriched those who entered the doors, possibly contributed some way to the community let me know your story!