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Mortgages and Hurricanes – Time to Clean up

September 16, 2008

I read a quote in the New York Times the other day that stated: “The storm was easy. It’s what came after that was terrible.” BRENDA SHINETTE, of Galveston, Tex., who rode out Hurricane Ike but went to a shelter on Sunday hoping to be evacuated.

Having been through many hurricanes in Florida as well as Hurricane Camille in Gulfport, Mississippi, I know what devastation looks like. It’s pretty darn ugly. The hurricane itself, while scary, isn’t as bad as the aftermath. It’s the long, HOT days of clean-up that take their toll on the mental and physical well-being of our friends and neighbors.

And so it is with the mortgage industry. We have gone through the WORST of the storm and we have come through with damage. In the wake of this mortgage mess, we have a weary public who is wary of buying. We have a mortgage industry that doesn’t know what hit them or how to fix things and we have sellers and buyers who don’t know how to return to “normal”.

This is not to make light of our friends in the Gulf Coast. My deepest sympathies are with them.

But when it comes to real estate, it is time to pull up our boots and start marching. It is time that we all realized we have to work toward the better good of the country. It’s time to buy and sell real estate.

What will it take? It will take time and an organized and concerted effort to make sure this does not happen again. It will take honest politicians and honest borrowers. It will take fair-minded buyers and sellers who can negotiate a deal without trying to squeeze someone for more money.

That day is dawning and I’m proud to be a part of an industry that realizes where it is going. It is still an industry that recognizes the longing for a place called home. Be it ever so humble…

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