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Will the Presidents Plan Help Boca Raton real estate owners?

President Bush has come up with a new plan that can help South Florida Homeowners. Many South Florida homeowners purchased real estate above and beyond what they could originally afford. This has caused a tremendous amount of short sales and foreclosures for our region.

The numbers have risen with people facing foreclosures in Palm Beach County this year. The amount of people that were facing foreclosure in 2006 was 298 and that number has risen to 1,063 in 2007 according to the Florida based company, realestat.com. A great majority of these foreclosures are due in part to the short term loans that contained adjustable interest rates.

President Bush's plan to assist homeowners through the FHA, by guaranteeing them loans at lower interest rates which owners can afford. This can take a large amount of the people facing foreclosures and give them a way to keep their home. There is a specific criteria which must be met before qualifying for these loans, which includes making timely payments, before they got into trouble with the risky loans.

If you are in the market to buy Boca Raton real estate or sell your Boca Raton home, please contact Caesar & Eileen Parisi today!

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