Cowboy Surfer Grill Restaurant – Corona, CA

Hello Friends,

Have you heard the news? It seems too good to be true and most likely it is. Believe me, having our economy jump started by creating a home purchase flurry sounds wonderful on paper and I would love to see it happen if it could work, but my concerns are laid out in the video. The biggest concern I see in the preliminary talk on this just accounts for new home purchases, not refinances. If this is true, the same critical problem that is occurring with FHA insured loans which had to put safeguards in place to stop this problem is a practice called “Buy and Dump”.

In some markets and more as this idea spreads, it is where a person would be living in a neighborhood and their neighbor’s home went into foreclosure on top of the decline they have already seen in their home value and they could get the same cookie cutter house for a 1/3 or more of what they owe or their value. Then they get qualified to buy the neighbors home stating they are going to keep the current as an investment and than once the deal closes, they stop making payments on their last home.

Add to the equation they can do this AND get a rate at 4.5%, this unethical phenomenon would continue at a scary pace. So as good as it sounds, there is a lot of safeguards to be worked out. Also, another concern is that people will get into homes they cannot afford because of the low rates and end up buying too big of home the cannot afford and when the economy does turn around and the rates are back at an average level, they will be in a home they could have not afforded without the rate drop.

So a lot to digest with this concept, stay tuned….

Please watch the video for more details of the financial and mortgage market happenings today.

Be Blessed!

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Outlook for GOLD if Interest rates Rise and the U.S Bubble Economy

Treasury Bills

http://finance.yahoo.com/news/Foreign-demand-for-Teasury-apf-1402391707.html?x=0&.v=6

Educational Vids from a trusted friend

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Honest Financial Advice
CslFinancialgroup.net

Gold
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The inflation rate has soared to 3.5 per cent in January as direct result of the Government’s VAT rise.

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Follow us on twitter at http://twitter.com/itn_news.

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Schiff Report video blog Oct. 23 2009 Also check me out on
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