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lkassis
Iowa
60 Posts |
 Posted - 10/09/2008 : 3:50:07 PM
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Sometimes, I think the phrase of 'One door closes for another to open' has some grounds in our current economic situation. I don't believe we are all lemmings. We are Americans! Americans are fighters! We will always prevail! We will always make a come back! It will just take a little time but what I mean by one door closes for another to open is that we have hit a considerable low which will open our and the governments eyes and the situation will be reformed to create something better.
Rah-Rah. So now I guess I'll put away my pom poms for the rest of the day. I do honestly believe things will turn around. They always do and we learn something from them, or I certainly hope we do.
Linda Kassis
United Notary Association (UNAA)
www.unitednotaries.org
www.halitek.com
If you are not riding the wave of change, you may find yourself under it. Ride the wave with the UNAA. |
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vince
Kansas
324 Posts |
Posted - 10/09/2008 : 2:11:21 PM
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| So long as one party is so heavily invested in promoting the recession concept and spouting a belief that the economy is not fundamentally strong, we will continue to have major problems. That said, we can expect some recovery after the next president takes office. The only question in my mind is how much damage will have been done and how the cost of that strategy will be born by all of us and our children’s children. |
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Shannon
California
360 Posts |
Posted - 10/09/2008 : 09:15:56 AM
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So many threads are devoted to topics like: "Have we hit the bottom?" or "Leading economists say our recovery will start [insert your date]" An interesting note is that everyone believes the economy can come back. Most believe that it will come back. We all seem to want it back. I wish we could all, collectively, turn ourselves over to the power of positive thinking. Then, we wouldn't need a "temp" to boost our spirits every eight years. Then, consumer confidence would be the leading indicator...not the one that lags behind and we, like lemmings, all wait for!
"A Quick Note"
www.aquicknote.net
Personal Service to All of Southern California |
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lkassis
Iowa
60 Posts |
Posted - 10/09/2008 : 07:12:42 AM
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I believe getting a new pres in place will start the process. Obviously not the bailout itself. If the new pres can create consumer confidence things will begin to turn around.
Stopping the massive foreclosures is #1. This is the beginning for bottoming out home prices. Creating jobs, putting people back to work is step two. The actions of the new pres has the ability to bring back consumer confidence. Consumer confidence will allow those who CAN qualify and who want to buy in a low market to buy. Buying creates demand, or at the very least reduces supply. Once we begin to have less homes sitting empty, the process of bottoming out home values will begin.
These are the things that will help the notary. So, the bailout? It will help some but it will be the entire package that will make things turn around.
Initially, my thoughts would be that the bailout isn't doing zilch but there are items within the bailout that, if one has not read the details, would not realize are there. The bailout package is not just a bailout of bad loans. The bailout will buy bad loans which will open up capital for new lending. That DOES help the signing agent. It also puts money into rebuilding our infrastructure, such as roads. That creates jobs. It also gives some tax breaks. I can't remember much more from there but it does contain more than just money to buy bad loans. Still it will take time and the effects will likely not be seen until the new pres is in place.
With the proper oversight, I am confident this will all turn around swiftly. Depends on who ends up in place to oversee it as commander in chief and who they put in place of Paulson.
Linda Kassis
United Notary Association (UNAA)
www.unitednotaries.org
www.halitek.com
If you are not riding the wave of change, you may find yourself under it. Ride the wave with the UNAA. |
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joanbergst
California
360 Posts |
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crtowles
California
553 Posts |
Posted - 10/08/2008 : 8:20:03 PM
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Lots of good points made. Feds did in fact lower the rate a half of a point so lets see if any of this stuff (lower rate and bail out)actually helps the country or us as signers.
Carmen
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jbelmont
California
3106 Posts |
Posted - 10/08/2008 : 1:23:40 PM
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I am speculating that when housing values hit what people consider to be the bottom, then banks will be less afraid to lend. They might think that they won't lose their equity because the market couldn't fall anymore. But, this is a long way off. Perhaps six months off at a minimum. With the economy so shaky, what is perceived to be a bottom may be the bottom of the reaction to the real estate bubble, but may not be a real bottom. If the economy keeps worsening, then housing values could crash in 2009, and then keep declining for many years to come at a slower rate of decline. Its scary to watch.
Its hard to say what will be good for notaries. Perhaps the new found confidence our nation might feel when a new president takes over could stimulate the banks to become more active. Or, perhaps the bad banks would be bought out by more solid banks, and that might stablize the market.
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kimcole132
North Carolina
100 Posts |
Posted - 10/08/2008 : 09:43:25 AM
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| I had a title company call me and cancel one that was scheduled this week because it was an ARM. She said they could not close any more ARM's until the Bailout plan was approved/settled. Apparently, it addresses ARM loans and they have to comply with the rules before letting any more of them close. I think that is part of the slow down this week. |
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joanbergst
California
360 Posts |
Posted - 10/07/2008 : 10:24:18 PM
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I really mean what does this bailout do for Notary public/ loan signers? I am doing 3 signings tomorrow, but, the last 10 days calls have been very few.
I received a total of 6 calls for the last 10 days and I have averaged approx 3 (for loan signings) calls per day for the last year.
Bank Of America has settled a Countrywide lawsuit with our CA Sec of State Jerry Brown which might help approx 125,000 homeowners with loan modifications.
Is this a good beginning or is this something that looks good as a press release?
If the Fed lowers the interest will this help homeowners refinance or purchase a new home? In my area, the Inland Empire, it will be a foreclosure that someone purchases.
Joan Bergstrom
24/7 To Riverside & San Bernardino Counties.
State Notary exam teacher for www.notaryclasses.com
www.joanbergstromnotarypublic.com
joan.bergstrom@yahoo.com
Cell: 951-522-4919
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The Bailout Package?
