Will the new housing bill help?

 

The stock marketing is betting against it, the media doubts it and clients are calling with requests that cannot be met by the banks.

 

Why won’t it help?  Simply put, because the Bill is created by politicians who do not understand the business end of the mortgage industry. The mortgage industry is fuelled by Wall Street and not the American dream.  If the banks cannot profit with a mortgage and cannot sell it on the open market, then they are not doing it! 

 

Why should they help the Jones, if the Jones cannot help them? This whole debacle is going to be a wait and see thing.  Unfortunately, these people and their mortgages are simply going to have to be flushed from the system.  The government cannot force businesses to act in a way that is not beneficial to their shareholders.  It is not the American way!

 

I will be discussing the Bill this week in the blog and as a guest on other blogs.  Please tune in later.  -Dale Robyn Siegel