Who would want to be in the shoes of President Obama? He came into office only a year or so ago and is already aging in front of our very eyes. It seems that whatever he does, the housing market remains stubbornly slow and for one reason or another people are just not getting into the homes that they want to. Leading economists tell us time and again that unless the housing market starts moving, the overall economy will remain flat. In any circumstances, the housing market must be activated, so that people can feel confident about the future. Once the people are happy again, the economy will definitely rebound, but if the housing market moves nowhere, it’s conceivable that we could be depressed for a long time.

It’s difficult to tell how we got to this position. It may have been due to questionable lending practices by some institutions and it’s certainly the case that the market accelerated and became overly inflated too quickly. Once that process came to an end, banks and mortgage lenders became increasingly recalcitrant and were not willing to consider anyone. Not that long ago, buying a home with poor credit became very difficult to achieve and even though prices fell right back, few were willing to lend.

A land contract, currently popular in various areas of Michigan and the Midwest, can certainly help to kick-start the housing market and put people back into homes. For first time home buyers with bad credit, the land contract can be a true lifesaver, as you will now be able to negotiate directly with a lender and come to terms and conditions that are favorable and satisfactory to both of you, and are not just one-sided. Many millions of people have issues now following the recession and find that buying a house with poor credit is extremely difficult. One way or the other, either through a limitation of funds for the deposit or through a bad credit-rating, or even a foreclosure, nothing seems to move. Every situation is different, for sure, but if you are intent on buying a beautiful home in Grosse Pointe or Detroit, it’s really unfair that you should be denied your opportunity.

We need to start off by bringing parties together to discuss their land contract options. A carefully structured agreement is paramount and both parties should be very careful to make sure that all the “t’s” are crossed and the “i’s” are dotted. Once a property has been identified and a party discovered who is willing to discuss a land contract, all the details should be revealed and lawyers consulted to give their seal of approval on the finished product. By taking the advice of experts in this field there is no reason why there should be any risk and you will find that many more opportunities open up in front of you this way. Help President Obama and the rest of Congress to kick-start the housing market by doing your own bit – look into a land contract, and help to pave your way forward. This is just one of the alternatives we should consider for the overall recovery effort and the good of our country.

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