Decent consensus. While sure, everyone is “told” to be upbeat and positive, at some point the truth needs to be told (or in this case, fronting until it DOES get better)…not to be “super negative” and create panic (although the panic is that panic will occur, but panic is a hyped-up version of fear), but that information needs to get out there otherwise.

Rates should stay in that agreed-upon flat to .25% for at least the next 8 months (maybe early next year’s meeting might hold better consensus of things appear to be getting better), but the job front is the key. Last month’s report said it all; census workers are “1 job” if they work for 1 hour/month…and many are getting hired, “fired”, re-hired, and others hired as well. That still wasn’t enough and it’s supposed to end in the next 3 or so months. Although there they are “told” to stretch their work out as long as possible…gee, I wonder why?

As for multi-families, one needs to look no further then see duplexes and 3-units in the cities selling as REO’s for sometimes 20-25 cents on the dollar. Most that get fixed up, you’re still in it for about 80 cents tops, and that usually means a viable cash flow with it fully paid off in roughly 3-5 years time.

ALSO TO TAKE NOTICE IN REGARDS TO COMMERCIAL LOAN MODIFICATION

Nеw Final Regulations Resolve Open Issues fοr Modifications οf Commercial Mortgages Held bу REMICs – LTD 9463, Rev. Proc. 2009-45, Notice 2009-79] Bу: Richard Ivar Rydstrom, Esq. Chairman, CMIS (Coalition fοr Mortgage Industry Solutions) News: Nеw Final REMIC Regulations Stаrt September 16, 2009