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Dave,
The money needs to be funneled to preserving the value of Real estate Assets, getting real estate moving again and isolating the loans identified as “toxic” in one agency where they can be evaluated by people that do it every day, packaged for sale to investors and backed by the government. Yes, there will be pain and tax dollars will be spent, but this is the best I have heard yet for keeping the cost down. Once stablized, the new agency or the assigned agency can be trimmed back or eliminated from the books.
I have been selling homes for 35 years. I thought I might go teach or do something else soon. All has been put on hold and now that I am nearing the end of a carreer, I find my skill sets are needed more than ever, but nobody can pay me.
Please vote to the side of reason for real estate and jobs. If the money does not move, the tax base is in trouble.
Frank Klein
Associate Broker
Coldwell Banker Bain