There is a new reason to get your loan modification started today, and that is the distant glimmering of an improvement in the financial statistics.
First time homeowners who have been waiting for the bottom are now shopping. Some communities are reporting actual shortages of homes at the entry level. In Sacramento, an area with a lot of foreclosures, homes under $200,000 are getting multiple offers – almost like the ‘good old days’. Many of those homes were selling for $280,000 or more at the peak of the market, and $200,000 may be painful, but at least they are selling!
Internationally, the IMF (International Monetary Fund) is predicting a worldwide growth of over 2% in 2010, a figure that they have just recently increased since their last estimate in April.
So, with pundits now doing revisions UPWARDS in their predictions, instead of down, we can say that the end (of the recession) is near. Just as the start date of the recession was early in 2008 – long before anyone noticed it had arrived – the end date of the recession will not be known until long after it has departed.
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