MIAMI BEACH, FL, February 29, 2012 (Press-News.org) CNN/Fox News Real estate expert Robert Shemin provides creatives solution to stabilize housing market and get the economy back on its feet!
A year before the real estate crises I called it! No one would listen to me and here we are. Well, no use crying over spilled milk. Big problems demand creative solutions.
Neither the banks nor the government have been very creative. Their programs have been dismal failures. Just talk to anyone who has tried to do a loan modification or a short sale.
The banks are sitting on tons of bad notes and foreclosed property while people have spent one to three years in houses without making payments.
Until this housing crisis has been resolved the US economy will just limp, crawl and stumble along without really ever getting up and going again.
The question and the solution are the same: Who should take the biggest hit and who should profit the most from any gain?
Why would someone who has been making payments on their upside down homes be penalized when someone who is not making payments gets a reduction in principle?
Moral Hazard gets you by, while people who are not making it into the " financial distress" category are just dangling along until they finally get there too.
Foreclosure is a "lose" for everybody and a few short sales just don't cut it.
I believe the best solution is a hybrid. The government announced that they are going to turn a lot of distressed properties into rentals and sell to investors. As an investor this is great news, because now investors can take advantage of homeowners and the bank's distress and perhaps make great profits. Good for us but a lot of people are left behind. The answer again would be lease with an option.
Let the banks work out an affordable lease with an option to the current homeowners. Let the bank and the homeowner participate in any potential future gains. Who knows if or when the markets will come back. If it does, the home owner has an option price and therefore any potential gains or losses could be shared by the home owner and the note holder.
Let me give you an example:
Let's say Jill and Bill have a house they bought 6 years ago for $400 000.
They borrowed $400 000 and got a $400 000 dollar note with "country slide mortgage company". Now the house is worth $275 000 but the note is still $395 000. The payments are $4000, which Jill and Bill cannot afford.
The choices are to do a short sale of $275 000 and the bank loses. The bank could foreclose at a cost of about $18 000 and now have a vacant house on their books where no one wins. The homeowner's credit is destroyed and the bank now has a bigger vacant foreclosed inventory, which is what caused a lot of our economic woes in the first place.
I recommend a creative solution:
The homeowner and bank can work out a lease with an option. They work out an affordable payment, perhaps $2800 a month, with a portion going towards the purchase price. The home owner agrees to do some or most repairs and they get an option for 3, 5, 7 or 10 years, depending on when the experts think the markets will come back at perhaps $350 000. Therefore the bank would only lose $50 000, not have a foreclosure and not have a vacant home. The homeowner has an incentive to pay and stay, hoping that the market goes up. These numbers are just examples and the bank and homeowner and government could negotiate to divide the winning or losing pie however they like. This would save money, time and definitely stabilize a lot of the housing market.
How come the banks or the government are not doing it?
That is a mystery that I cannot solve. However a lease purchase or lease option would solve a lot of problems and save a lot of money for a lot of homeowners, banks and the government.
Just call me if you need me to help with the details, the banks, government and homeowner or we can just continue to throw away billions of everyone's dollars...
For more information visit www.robertshemin.com
Real Estate Guru Predicts Market Crash-Now has Creative Solution to Fix It!
CNN/Fox News Real estate expert Robert Shemin provides creatives solution to stabilize housing market and get the economy back on its feet!
2012-02-29
ELSE PRESS RELEASES FROM THIS DATE:
Types of Chemical Peels
2012-02-29
As you age, genetics, sun exposure, and lifestyle choices will all begin to show visible signs on your skin. This is a natural part of the aging process, but can leave some men and women feeling uncomfortable, and older than they really are. Some people choose invasive surgical procedures such as a facelift to address these issues, but surgical procedures are not right for everyone.
For people who would like to restore a youthful, glowing complexion without surgical intervention, a chemical peel is often a wonderful choice. Working closely with an experienced plastic ...
What is "Ghosting", and Can it Be Treated?
2012-02-29
Ghosting is a potential risk and complication of LASIK surgery. Also known as double vision, ghosting occurs when an object appears blurry or multiple images of the object are seen. Like halos and glare, ghosting is more common at night, and can lead to visual disturbances that make tasks such as driving more difficult.
According to clinical trials conducted by the Food and Drug Administration (FDA), around 20 percent of LASIK recipients experience ghosting following LASIK surgery. Fortunately, a majority of these instances are temporary and will self-correct with 30 ...
How Common is Nursing Home Abuse?
2012-02-29
According to the National Center on Elder Abuse (NCEA), precise statistics on nursing home abuse and neglect are difficult to ascertain.
This is due in part because definitions of abuse and neglect are wide ranging, and there is not federal center that collects data about nursing home abuse. Also, many instances of nursing home neglect and abuse go unreported as some patients have conditions that make them unable to articulate abuse and others are too scared or too embarrassed to report abuse.
However, the NCEA report Elder Mistreatment: Abuse, Neglect and Exploitation ...
How to Choose an Emergency Dentist
2012-02-29
When you are facing an emergency dental situation, you require prompt, effective emergency dental care. Dental emergencies that may require immediate attention include:
- A tooth knocked out by trauma
- A chipped, cracked, or fractured tooth
- A tooth that is misaligned or loose
- Quick onset of facial pain
- Sudden onset of clicking, popping, locking, or pain in the jaw
- The presence of infection or swelling
- An extremely sensitive tooth
Emergency dental situations can quickly deteriorate and result in additional problems and even hospitalization. Calling ...
Choosing a Tummy Tuck Surgeon
2012-02-29
You have several choices when looking for a tummy tuck surgeon. The best place to start is with an internet search. This will provide you with the names of tummy tuck surgeons in your area. It will also provide you with links to their websites where you can further investigate their practice.
What to Look For
The first thing to look for on your prospective tummy tuck surgeon's website is their tummy tuck information page. This page should contain general information about the procedure. It should also contain information on what you can expect before, during, and ...
What is Liposuction?
2012-02-29
Liposuction is among the most common and popular cosmetic surgeries performed in the United States. With the use of a small tube called a cannula and gentle suction, liposuction is used to remove fat from certain areas of your body, including:
- Thighs
- Hips
- Waist
- Abdomen
- Buttocks
- Flanks
- Back
- Breasts (both male and female)
- Arms
- Neck and face
To perform liposuction, your cosmetic surgeon will make a small incision in the area to be treated. Through this incision a cannula is inserted. A cannula is a thin, rod-like instrument used to break ...
How Long Does It Take for Rhinoplasty Results to Show?
2012-02-29
Rhinoplasty is one of the most popular plastic surgery procedures in the world. Even in countries where body contouring and breast augmentation are taboo, rhinoplasty is remarkably popular. In the US, it is also one of the top five most popular procedures. But some people may be concerned about how long it will take for the results of their surgery to become visible.
Short-Term Recovery
Immediately after your rhinoplasty, you will see some results. Your nose will likely be swollen, and there may be swelling and bruising around your nose, especially under your eyes. ...
Overmedicating, Wrong Medication, and Nursing Home Abuse
2012-02-29
As you grow older, the likelihood of your needing medication inevitably increases.
There are a number of diseases that require an array of prescription medications, including:
- High blood pressure
- Diabetes
- Parkinson's disease
- Alzheimer's disease
In fact, Americans aged 75 and older take an average of more than 11 different medications over a one-year period, according to the American Association of Retired Persons (AARP). And because senior citizens account for about 13 percent of the population, they make up about 35 percent of all prescriptions filled.
Based ...
What Can Porcelain Veneers Fix?
2012-02-29
If you have one - or even several - cosmetic dental issues, your cosmetic dentist may suggest porcelain veneers. This durable cosmetic treatment conceals visible imperfections of your teeth, letting you create a stunning, flawless smile.
The only way to know if veneers are right for you is to consult a cosmetic dentist. Certain aesthetic imperfections of the teeth may have underlying causes that require treatment. Severe decay or significant structural wear and damage may require treatment before veneers will be an option for you.
Cosmetic Dental Problems Improved ...
Common Dental Problems
2012-02-29
Dental problems are not uncommon. Everyone's teeth are vulnerable to problematic conditions, although you can protect your oral health by sticking to a good oral hygiene routine. If you are concerned about a dental issue, you should consult an experienced dentist.
Cavities. Formed by the activity of bacteria in your mouth, cavities are an irreversible stage of tooth decay. Cavities are usually treated with metal or tooth-colored fillings. Advanced cavities may require a tooth crown or a root canal.
Bacteria are always present in our mouths. The bacteria on your teeth ...
LAST 30 PRESS RELEASES:
Ancient crop discovered in the Canary Islands thanks to archaeological DNA
Placental research may transform our understanding of autism and human brain evolution
Mapping the Universe, faster and with the same accuracy
Study isolates population aging as primary driver of musculoskeletal disorders
Designing a sulfur vacancy redox disruptor for photothermoelectric and cascade‑catalytic‑driven cuproptosis–ferroptosis–apoptosis therapy
Recent advances in dynamic biomacromolecular modifications and chemical interventions: Perspective from a Chinese chemical biology consortium
CRF and the Jon DeHaan Foundation to launch TCT AI Lab at TCT 2025
Canada’s fastest academic supercomputer is now online at SFU after $80m upgrades
Architecture’s past holds the key to sustainable future
Laser correction for short-sightedness is safe and effective for older teenagers
About one in five people taking Ozempic, Wegovy or Mounjaro say food tastes saltier or sweeter than before
Taking semaglutide turns down food noise, research suggests
Type 2 diabetes may double risk of sepsis, large community-based study suggests
New quantum sensors can withstand extreme pressure
Tirzepatide more cost-effective than semaglutide in patients with knee osteoarthritis and obesity
GLP-1 drugs shown cost-effective for knee osteoarthritis and obesity
Interactive apps, AI chatbots promote playfulness, reduce privacy concerns
How NIL boosts college football’s competitive balance
Moffitt researchers develop machine learning model to predict urgent care visits for lung cancer patients
Construction secrets of honeybees: Study reveals how bees build hives in tricky spots
Wheat disease losses total $2.9 billion across the United States and Canada between 2018 and 2021
New funding fuels development of first potentially regenerative treatment for multiple sclerosis
NJIT student–faculty team wins best presentation award for ant swarm simulation
Ants defend plants from herbivores but can hinder pollination
When the wireless data runs dry
Inquiry into the history of science shows an early “inherence” bias
Picky eaters endure: Ecologists use DNA to explore diet breadth of wild herbivores
Study suggests most Americans would be healthier without daylight saving time
Increasing the level of the protein PI31 demonstrates neuroprotective effects in mice
Multi-energy X-ray curved surface imaging-with multi-layer in-situ grown scintillators
[Press-News.org] Real Estate Guru Predicts Market Crash-Now has Creative Solution to Fix It!CNN/Fox News Real estate expert Robert Shemin provides creatives solution to stabilize housing market and get the economy back on its feet!