Surely Says...Texas Real Estate Update...

Did you Know?
33% of loans in Foreclosure have not made payments in 2 years.
4.1 million loans are 90 + days delinquent or in foreclosure.

RECON, Mark Dotzur, per his presentation below:

Restarting the Housing Market

• People still want to buy homes.

• They are worried that prices may fall further.

• The OCC reports over 4 million houses in

foreclosure or over 90 days delinquent

• Loan modifications are not working

• At current rates, it may take 50 months to

clear the foreclosure inventory

We need to speed up the foreclosure process

• We need to encourage private investors:  

– Make investor financing available

– Shorten depreciation to 15 years, with ACRS

– Write off losses against earned income

– No capital gain if you hold the property 5 years

Everyone agrees that housing is the key

headwind against the US economy.

• Postponing and delaying foreclosure does

nothing but extend the market paralysis

• We need a change in policy now.