Foreclosures?

How are foreclosures affecting the Marianna FL real estate market?  In my opinion, not much.  The foreclosure rate around here seems to be basically stable.  There may be a few more, but not many.  President Bush signed the Housing Bill today which will allow those who qualify to cancel their old mortgage loans and replace them with 30-year fixed-rate loans for up to 90 percent of the home's current value. This is good news for people who got into some high rate adjustable loans that are now adjusting.  Hopefully, many people all across America who are in danger of losing their homes will take advantage of this.   Another feature of the housing bill is a credit of up to $7,500 for first-time home buyers for houses purchased between April 9, 2008, and July 1, 2009.   There are also many great programs currently in existence to enable workforce employees, such as teachers, nurses, principals, administrators, counselors, librarians, secretaries, coaches, adjunct faculty to name some, to purchase a new home, build a new home or refinance a current home.  Foreclosures haven't hurt our market.  It's still a great time to buy a home in Marianna FL.

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