Kevin Hall with RISMedia gives an interpretation of Obama's plan to help distressed homeowners across parts of America.
It's pretty long and the basic part is that it won't help every body. Lot's of owners in Myrtle Beach will not be eligible for this bailout so we should see our foreclosure numbers stay high for the next few months.
Cash buyers are here today in the Myrtle Beach ocean front real estate market. Banks are starting to sell short but financing is almost impossible to find.
Even with Obama's bailout, if it even works, it will take a long time for the positive effects here (banks lending on the ocean front) to trickle down.
If you are a cash buyer you have a golden opportunity to steal ocean front property. If you need a mortgage to purchase, even if you have great credit and 25% down, no loans are currently available through banks for ocean front property under 650 heated square feet.
If you would like to be put on a list to be notified when I can find secure mortgage money at a good interest rate, send me an email and let me know.
Visit my website and email me. Http://www.MyrtleBeachDreaming.com
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