When you heard that our Federal Government had extended the tax cut and long term unemployment benefits for two months, you were probably glad. If you read on, you discovered that the two months were financed on the back of the Real Estate industry. (For 10 years!) Details are still sketchy, but from what I understand every FHA, Fannie Mae or Freddy Mac loan closed for 10 years will have a 10 basis point surcharge. (That is almost the equivalent of .125% increase in the rate of probably about 90 percent of the loans that will close in that period.) Now I ask you which industry does our country desperately need to turn around? That is right, the real estate industry! So why not raise their cost?
I am honestly wondering if anyone in either party has a clue what they are doing up there.
I'm just saying----.
You can reach me at 615-777-4663 (HOME) or email me at George.Margrave@migonline.com .
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