Orlando Real Estate News

Citing the problems caused by complex mortgage loans, FDIC Chair Sheila Bair encouraged the lending industry to return "back to basics" in an address at the 2009 REALTORS® Midyear Legislative Meetings on Tuesday.

"The mortgage financing system that helped build our prosperity after World War II was based on standard, 30-year, amortizing loans," Bair said. "We realize now that many of the financial innovations of recent years did not serve the long-term needs of the consumers.

"In fact, they put borrowers in danger, along with mortgage investors and our entire financial system. We need to go back to greater simplicity in mortgage instruments. We also need greater transparency and better incentives for mortgage loans."

Although Bair pointed to many encouraging signs of economic recovery, she added that the troubles were far from over in the real estate industry.

"There's still more pain to go and more work to be done," she said. "Housing led us into this downturn and housing needs to lead us out of this downturn. U.S. home prices have fallen some 31 percent since early 2006, and futures price indices suggest home prices could fall even further before bottoming out late this year or in early 2010."

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

Looking for specific information regarding Orlando Florida real estate prices and communities? Get Your Free Market Snapshot

Read Also: Sales of Lower Priced Homes Surge and Indicate Recovery

Read Also: HUD Secretary Announces Monetization of Tax Credit

Read Also: Florida Foreclosure are Back!!

Read Also: Could a Luxury Home be in Your Future!

If you want to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place while time is still on your side. Please contact us for any real estate assistance you may need.

We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer your questions.

Related Posts