Fee for service real estate, a primer
Many areas of the country have been wounded by significantly declining property values. In fact, many homeowners in those areas now owe more on their mortgages than their homes are worth. The number of foreclosures are at record levels and has contributed to the glut of inventory of unsold properties. The new government stimulus bill aimed at the housing sector has many optimistic that it will be enough to encourage potential buyers to jump into the real estate market and get that part of the economy moving again. One of the main goals of the plan is to help responsible consumers and their lenders make mortgage payments more manageable, thus reducing the number of defaults and foreclosures.