Also, I just found out that the trustee sale announcement was posted in March.

The main concern I had was with the cost and terms of commercial loans... with this announcement, lenders now should have a better sense of intermediate term rate direction and possibly we'll probably see increased loan activity as a result.

The Fed announcement that they don't plan to change the current rate for two more years should give the lenders confidence that they can continue to do business as usual for the next couple of years.BTW, banks have always had lending standards.

Fannie came out with a new announcement about this 9/08.

., Fannie Mae and Freddie Mac) •· Local and State government agencies •· Nonprofits approved to purchase HUD REO properties at a discount http://www.hud.gov/offices/hsg/sfh/np/np_hoc.cfm •· Sales of properties within Presidentially-Declared Disaster Areas (upon FHA's announcement of eligibility in a mortgagee letter specific to said disaster) Prohibition on Property Flipping Described Property flipping is a practice whereby a property is resold a short period of time after it is purchased by the seller for a considerable profit with an artificially inflated value, often abetted by a lender's collusion with the appraiser.

Obama's Stimulus Announcement Posted: Wednesday, January 07 at 11:12AM Obama, who aides said will give a “major†speech on the economy tomorrow...............

https://www.efanniemae.com/sf/guides/ssg/2009annlenltr.jspwww.eFanniemae.com Select brokers/correspondants Select lender announcements Announcement 09-02 March 1 is the kick off date Properties 5-10 720 fico 75% purchase 1 unit 70% no cash out refi 1 unit 70% purchase or no cash out refi 2-4 units 6 months reserves for all investment properties owned * side note - properties 1-4 will require 6 months reserves for subject and 2 months for all other investment properties.

Turns out I was right, the provision was eliminated from the final compromise bill that was announced.

Check back to our blog periodically, as we will announce the official date you will be able to catch up with Jeff Lewis, Ryan Brown, Jenni Pulos, and Zoila.

Then, at the last moment, the President's press secretary announced that President Obama believed that the private sector should operate the banks - which bought the market a little more time.Mike