• Getting a mortgage, small business, or short-term loan becomes extremely difficult, even for good credit consumers and businesses.
• Consumer and business bankruptcies rise significantly, as refinancing options are shut down.
  Lines of credit are reduced and interest rates on personal and business credit cards rise, adding to the burden on families.
• Consumer and business spending declines, further depressing the economy.
  Unemployment increases significantly.
• Budget deficits increases noticeably due to declining revenue collection at all levels of government.

REALTORS know better than anyone else how important housing is to our local and national economies. Like it or not, the housing market can’t rebound until we resolve the problems in the financial markets. Now is the time to act before they move beyond repair.

Despite what you may have heard from the news media, the laws and policies that Congress is considering will directly benefit Main Street, by making financing more available and helping to stabilize home sales and prices. Additionally, the cost of such a plan is likely to be below the figures that have been widely reported. In fact, as our own Chief Economist, Lawrence Yun, has explained, there is a very good chance that taxpayers will reap a positive return on this investment over the long term.

For a more detailed explanation of the Economic bailout plan in lay terms please click here.