Great post, by the way. I can definitely see why the government developed this program (ie. the fact that people have seeming forgotten how to manage their money with any sort of accountability).

But you are correct to feel some unease about the potential long term consequences of this program (especially if the housing market unexpectedly cools off or the economy heads south again).

I don't believe that the government will fix the siutation before that happends. My hope is that the ecomony and housing marketers start growing again, and subsequently put an end for the need of these types of programs.

Sincerely,

John Stanley
San Diego Investment Property Specialist

After all, if a listing agent takes any arbitrary house and puts it up for sale(without its legal owners consent)at any arbitrary price, wouldn't that be considered an unethical act , if not a downright illegal act?
So what is different if the owner has dues to the bank?

How is the Real Estate market in Poway these days. I spent a week in San Diego at the end of last year and things looked terrible. I’m planning on moving there but not until next year when the job market gets better…

Doug