Released on: February 29, 2008, 9:09 pm

Press Release Author: Mark Maupin

Industry: Real Estate

Press Release Summary: Top Democrats demanded quick action on the sub prime mortgage
crisis, saying President Bush has been slow to address a situation that could cost
millions of Americans their homes

Press Release Body: Senate Majority Leader Harry Reid of Nevada said at a joint news
conference with House Speaker Nancy Pelosi of California that, "This [situation] is
a national crisis.\'\'
Hard hit in the mid west, branch offices for the secretary of state, Michigan's
equivalent of the department of motor vehicles, posted signs over some weekends
saying they were closed. This caused a panic with many offices filling last week
with residents whose driver's licenses or license plates were to expire soon.
Of the Michigan's 53,000 employees, 35,000 were temporarily laid off, including
four-fifths of the state police troopers. Some effects of the shutdown became
apparent as campers and trailers were ordered to leave state parks. Even freeway
rest areas were barricaded while several drawbridges remained up and not usable.
Traffic monitoring cameras went dark at midnight at many busy intersections. Revenue
generators like state lottery operations, liquor sales and road construction were
halted. The state threatened unemployment offices, which are critical in a state
that has lost hundreds of thousands of jobs in recent years, would close.
"Many homeowners face foreclosure as a result of their adjustable-rate mortgages
that have now reset to higher interest rates, increasing their monthly payments so
they cannot afford to pay them," said Jeff Kaller real estate investor and
Pre-foreclosure specialist.
The sudden push by state officials to deal with foreclosures and the housing
slowdown comes on the heels of recent federal action, including the Federal Reserve
Bank's lowering interest rates by one-half of one percent.
More than a year after foreclosures started to skyrocket through out the United
States; lawmakers have finally taken notice and are considering measures to keep
local residents from losing their homes. In other cases, foreclosures have resulted
because speculators counted on continuing appreciation, only to have the housing
market slow, and prices stagnate or drop.
Foreclosures are putting downward pressure on home values nation wide. Home
inventory is at historic levels and 46 percent of those homes are empty.
Statistically, for every one percent decline in housing prices, the cost to
single-family residential property owners is $800 million. According to Kaller,
"Pre-foreclosure investors offer options to distressed homeowners by salvaging their
credit and providing a way out of the property."
Jeff Kaller is the leading short sale and pre-foreclosure expert Nation wide. His
students have really done well in our Michigan Market. If they do well in Michigan's
depressed real estate market you know Jeff Kaller is doing a great job of teaching
the short sale business. Jeff offers free lessons and instructions for the amateur
investor who wants to get in on the profit making. His free e-book is available at
his website http://www.freeshortsalecourse.com/
Contact Information:
Paramount Promotions LLC (The Countries Leading Short Sale Trainer)

Mark Maupin
303-B Anastasia Blvd. #148
St. Augustine, FL 32080
904-819-0676
Email Address: mgeronimo@thejeffkaller.com
This Press Release has been submitted by PREasy.com


Web Site: http://www.FreeShortSaleCourse.com

Contact Details: 303-B Anastasia Blvd. #148
St. Augustine, FL 32080
904-819-0676
Email Address: mgeronimo@thejeffkaller.com