I’m curious to see how much of this homeowner bailout continues after the election. If it does, I’ll be looking to play the system like others. When the rules change to meet the need, you must also change your strategy.
One year ago, if someone suggested that the government would intervene and cut principles to keep people from being foreclosed on, everyone here would have called that person a dreamer. We were counting on the old rules, if they can’t pay, the bank would take it back and sell. In high numbers, this would put downward pressure on prices and there would be less qualified buyers to compete with. That was last year. This year, it is a whole new ballgame.
