Three States Move to Ban Foreclosure Sales From Appraisal Values
Posted on April 3rd, 2011
You have got to check this out. http://www.dsnews.com/articles/three-states-move-to-ban-foreclosure-sales-from-appraisal-values-2011-03-30
If only more states would adopt the same agenda we would have less of a distressed economic recovery and allow for some to refinance at current values, reduce interest rates or to sell in an open market place. We would have less and less people with bad credit and bad debt that is spiraling out of control. More and more people without this help will find themselves further behind in bad debt from their mortgages and further in bad debt with the credit cards the have most likely been using to live on and to try and keep up with the mortgage until they got so far behind they could no longer keep up.
Even facing the prospect of foreclosure, people have been in their homes 2 and 3 years without a single payment. Neither side willing and/or able to compromise on a solution that benefits all. Right now no one know what to do when you have to ask yourself that if you buy now and the downturn continues should I take that risk.
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Tags: Appraisal Values, Values
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