No Comments »
Foreclosure Investing as Community Revitalization
A big welcome to Matt Milmeister, author of Mastering the Art of Foreclosure Investing: A Blueprint on How to Enter the Inner Circle of Foreclosure Investing.
If the rash of foreclosures hasn’t touched us directly, it’s likely that we are – as investors or potential investors – feeling the effects of this melt down. The losses sustained from bad mortgages will mean a significantly lower likelihood that those homeowners and investors who are good credit risks will be able to get loans they need.
And that’s not all: mortgage holders are hit hard by high foreclosure rates and in some cases trusted financial institutions will disappear or require significant restructuring simply to survive the current financial crisis. We’ve all seen this first hand. Maybe it’s happened in our neighborhood to people we know, or at the very least it’s been brought into the collective consciousness by the media.
I’m not trying to scare off investors or make the idea of foreclosure investing seem even more insurmountable. Quite the opposite – in these types of dire situations, the country needs investors. Now more than ever!
Foreclosures result in lower property values for all of us, and depresses growth in our local and national economies. Communities, state and federal governments all suffer losses as tax revenues decline, affecting the overall citizenry by reducing public services most of us have taken for granted.
When people lose their homes, many lose faith in the system they put their trust in. They feel as if their essential social contracts are broken. more info
We need only to look to the recent demonstrations in New York City against foreclosure auctions in the tri-state area are a good example of how the financial problems wrought by foreclosure can affect people. Feelings run high when people lose their homes seemingly overnight.
Home ownership is a bedrock principle of the American Dream, and whenever our fellow citizens lose out in this way, we all suffer with them. As I am not trying to scare away potential investors, I’m also not trying to gloss over the pain that this type of loss costs people. But again – investors are the way out of these feelings of depression.
In fact, for many who lose their homes today through foreclosure, it will be the foreclosure investor whose investment will drive the economy forward and ironically provide them indirect or even direct benefits as rising tide raises their boats too.
The best way to help those who have had misfortune in the current economic downturn is to get the economic engines moving again. Investors are a necessary and critical component of that process.
Matt’s book can be purchased at Amazon by following this link.
Posted on June 13th, 2009
Posted in Foreclosures Info
Posted by: Irina Netchaev
Leave a Reply