Foreclosure Halt

This is going to be a mess! Will the banks release their current inventory of foreclosures? I doubt it. People already in the short sale process might not have any incentive to continue because the bank isn't going to foreclose as soon as they thought. However, are banks not continuing working on the foreclosure process? Are those employees that process the paperwork not going into the office?

Banks Helping Homeowners

Read an article in a realtor publication yesterday. Why are banks not helping underwater homeowners more? There should be alternatives to loan modifications (if possible), short sales and foreclosures - even bankruptcy. The bank looses on short sales, foreclosures and bankruptcies. A better alternative would be to keep the homeowners in the home. Let the homeowner pay principal only for a period of time. Forgiving interest for a few years would be a less costly alternative. There are many business minded people out there that have a lot of good ideas to help stem the foreclosure tidal wave.

New Park in Peoria, AZ

There was an interesting article in the Peoria Republic for the weekend of October 2, 2010.

The community in north Peoria, Terramar, is finally getting the park that was promised years ago when the community was being built. The Palo Verde Park will be located near 73rd Avenue and Terramar Blvd. The hold up was due to fact that the parcel of land contained an area that was the site of a "pit-house" from the Hohokam tribe. When Terramar was planned the city was unaware that the area contained an archaeological site. The site has been excavated so in the next few weeks construction will begin. The city's plan is to include an interpretive trail explaining the archaeological significance of the area.