Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

December 5, 2008

The Coming Real Estate Boom

by @ 4:07 pm. Filed under Real Estate

Today’s paper brings news that the federal government now contemplates extending billions of dollars of assistance to homeowners in the form of subsidized mortgages. Right now, the deal (if it comes about) would only be available to those buying homes, not to those interested in refinancing. Specifically, the plan would make mortgage loans and the unbelievably low rate of 4.5%. The thinking is that this would result in a boost in home sales which would clean up the inventory of unsold homes, thereby stabilizing (i.e., preventing the continued slide of) home prices. Of course, those who are already in homes with burdensome mortgages would not be aided directly and many would like the program to be extended to those who wish to refinance. From a registry operations perspective, this would be great news for it would create a boom in recording activity.

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