Sep 27 2008
First Presidential Debate In The Books
McCain and Obama fought it out for two hours tonight and very little was said about the foreclosure problem in the United States right now. While the economic disasters in this country were highly debated early on in the debate, most of the talk was of tax cuts and pork barrel spending. Neither of this topics have much effect on whether or not you or I get to keep our homes.
Soon after that, the topics quickly shifted to foreign policy which is fitting since it will be people from other countries that come in here and purchase your home after you fail to protect it from the bank. While most of our news outlets are reporting this economy as being a world crisis, the fact is that other countries’ economies are expanding as ours is contracting. India, China, and Australia are all doing well while we struggle here and it will soon lead to an increase in the amount of homes purchased by citizens of other countries.
While you may think that this creates more buyers for struggling borrowers to complete short sales, it actually will do the opposite. Most foreign buyers prefer to buy directly from the bank since the title is clear and the bank is willing to sell the property at a discount. The goal for borrowers seeking to sell their property should be to find buyers in this country that are looking for a bargain in a down economy but have the credit to support such a purchase.
Finding these buyers may take some time, which is why you need to buy as much time as possible when facing a foreclosure. You may need to extend the foreclosure process for as long as one or two years. Luckily, through the processes described in Foreclosure Defense Secrets, you can extend the foreclosure process for as long as you need. For more information, visit www.ForeclosureDefenseSecrets.com.
