investment property in Florida. When I write this email, Congress is discussing bailout bill or law that will pay 700,000,000,000 U.S. dollars, to save Wall Street. In fact, we, the American taxpayer, should participate saves Wall Street. I do not like the draft of this law, but there is no other choice. Without money, there will be bad debts are extraordinary. Small business can not borrow money to pay salaries. Office will be lost. United States economy will collapse.
Strange, although there is a crisis of trust between the banks, there are no problems with credit for small people like me. More strange again, this time - investment property in Florida the time the credit crisis this happens - I'm borrow enough money to buy a big house half of the deceased mother of the rights of my sister.
The process of borrowing money to run smoothly. I have to show proof of payment of all bank tax, insurance, and my job. (I'm lucky, because my job as a lecturer very stable. As a permanent employee at George Washington University, investment property in Florida I can not sack, unless I make such big crime!) There are many forms and requirements that must be filled. Jerry will be a co-signer I, means that we will sign a loan agreement with that.
As Jerry said, "Janet have a good credit rating, Jerry has a sizable income." So we become a risk-taker with a small credit.
Why would we buy a house in Florida at this time? I think the American economic collapse is now the same with the Indonesian economic crisis in the years 1997-1998. During a crisis such as this, where should people from the middle class, put the money? I feel quite secure as a land investment.
After the mother died, there are only a little money, but there is a home in Sanibel Island. Sanibel is located in Florida, on the edge of Gulf of Mexico. The place is famous for its beautiful beaches, many coral reefs, and wild birds that stop there during the winter in the North. When I was little, our family always vacationed at Sanibel Island.
investment property in Florida Land at Sanibel limited, so prices will always rise. (Unless there is a big storm that the island is the same as the damage that Hurricane Ike Galveston of late.) House my parents are not luxurious, but comfortable, and is located less than one kilometer from the beach. People can walk there or ride a bicycle. There are many small roads to a bicycle in Sanibel.
In the United States, to buy houses, almost all people to borrow money (or get a mortgage) from the bank. I get a mortgage from Chase Bank to buy a condominium in Washington.
Each month, I pay some of the loan plus interest. investment property in Florida But recently, some of the mortgage given to the American people deserve less or who have bad credit history. Then the mortgage is sold by one bank to another bank. And if the owner of a house they can not pay the monthly charges, there Foreclosure, the bank can take home.
The man and his family will lose and have to move. I do not know what will happen in the United States. I hope Congress will agree with the bailout proposal. Most political leaders, from both political parties from Democrat and Republican - including Barrack Obama, John McCain, George Bush, and Hillary Clinton - agree with this plan. investment property in Florida I do not think there are other options. Yesterday, the Dow Jones Industrial Average falling more than 700 points, there is a resonance in the stock everywhere, including Indonesia.
investment property in Florida.I think buying a house in places such as Sanibel is still a good investment. But it must be recognized, I do not want to buy half the house from my sister just as investment. I want investment property in Florida to buy a home because I miss my father and my mother, and because there are many memories there. I have a family and home in Florida. I do not, and may be home for my parents, we are more important and meaningful than for him.
So ... Hopefully economies we will not collapse. Hopefully the storm will not be thrown Florida. And that all mortgage requirements can be fulfilled properly.
Sincerely, and until next week.
