I HATE TO TELL YOU I TOLD YOU SO

Just a quick update to say as far back as a yearago, "I told you so"  

From the "horses mouth" that there was nohousing recovery on the way, in spite off all the bankers, mortgage brokers andwall street pundits (let's not forget our own government) saying they could seethe bottom, or see the light at the end of the tunnel.

Hold on to your money ladies and gentleman, thisride has just started.  Unemployment hovering around 10% nation wide,temporary agencies saying they are not hiring, the recent extension ofunemployment benefits AGAIN and the Chair of the Federal Reserve (you knowthat's the PRIVATE) corporation that lends money to the government and all thebanking institutions AT INTEREST is saying they are in the "longhaul" points to another downward trend (I think it will be towards thelast quarter of this year.

Of course, the following is my personal opinion:I'm not an economist, just one of those "small businesses" owners oalmost 10 out here working to stay alive, but I have not seen an upswing to thecurrent recession, only a lull and now another downturn to the same chart. Actually I think we more like in a depression, "they" justdon't want to panic the everyday man/woman, so upbeat news drags money into thestock market only to be lost on a bad news day (like the new housing start datathat just came out and dropped the market over 150 points in one day.

It's time for these clowns running things to say"ok, we've got a hell of a mess, the old business model of collection andforeclosing does now work in this NEW ECONOMY (and yes, it's new ... if youthink business I going back to usual soon, you're going to be out on the streetand hungry.

In fact, I have a suggestion that would jump startthe housing market ... bring back "non qualifying assumable mortgage"and allow anyone who want to sell the option to sell this way.  Theystopped them back in the late 1980's but if I wanted to buy a house and it waswork $100,000 and the owner owed $95,000 we simply drew up a contract, Ibrought the equity of $5,000 to closing and the loan was transferred to myname.  I now was the owner of the house and owed the bank the balance andbegan making payments.

There is no liquidity in the banking market unlessyou've been working for 10 years and have 30% to put down along with a creditscore above 725.

Once again, the poor get screwed, the investor too- they want to put down as little as possible to get a good return on theirinvestment! 

In closing, take a look at www.gaforeclosure.com. You will only find properties for sale by the banks at this site, noretail.  We've been in business for over 10 years and have NEVER seen suchan opportunity to plant the seeds and buy a couple investment homes, rent themout and have someone buying those homes for you (or move up or your owneroccupancy home)

You read it here months before they would admit it,the recession is about to dip hard. Be judicious with your money, if youcan, pick up a house or two and enjoy the ride. Economic downturns aremoney in the bank if you can get creative.  An now is the time when millionaires are made if you lookback in history.  Remember thegolden rule in real estate.  YOUMAKE YOUR MONEY WHEN YOU BUY IT, NOW WHEN YOU SELL IT

Do yourself a favor, check us out at www.gaforeclosure.com.  If you find something, we help you thruthe hole process for free.

Michael R. Bang – CEO

Georgia Foreclosure, Inc.

www.gaforeclosure.com

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