The Foreclosure Crisis is the Least Understood Hottest Topic Today
Today, especially in Central Florida, the foreclosure crisis is the hottest but least understood topic. Even many in the mortgage industry are floundering and unable to grasp the root of the matter.
In an effort to address this problem and bring all the concerned parties under one umbrella, Phil Peachy, a real estate agent, is planning an event – Orlando Foreclosure Expo. It is scheduled for February 7th and 8th at International Plaza Resort and Spa. Originally the conference had been planned for November but the worsening economic climate forced its postponement.
Peachy is aiming to bring together brokers, realtors, house owners, attorneys dealing with real estate, bank representatives, investors, lenders, builders, wholesalers and all those affected directly by the foreclosure catastrophe.
Peachy has received a lot of feedback regarding the event that has made him optimistic about its success. This year there is the possibility of the economy turning around although foreclosures in both residential and commercial properties continue to pile up.
From 2006 Peachy started purchasing and selling foreclosed units but soon found it difficult to find foreclosed house that had not already been included in MLS. This gave him the idea of organizing an event that would bring together the buyers and sellers together with other professionals in the field. Under normal circumstances they would not have had the opportunity to come face to face.
The event will stage workshops under the guidance of experts dealing with the problem of avoiding foreclosure and grappling with the same if it has already come knocking. Also will be highlighted the opportunities of professions to negotiate and complete transactions on the Internet. The cost of participation is calculated at $10. More details are available on the net. Those interested can buy in advance brochures at a discount. The sponsor of this expo is The Orlando Sentinel.
The foreclosure crisis has had a domino effect on the socio-economic climate of the country with ripples devastating many global markets. Desperate to find the reason behind this the accusing finger points first to the sub-prime mortgages that were granted without checking on the ability of the borrower to repay. This was allowed to happen to de-regulation. This in turn poses the question of why was de-regulation permitted? The government has stepped in boldly with rescue packages causing many to raise eyebrows. So far there has been no positive impact and turn around in the economy.
