LoDo neighborhood of Denver lofts and condos, real estate for sale

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The Fannie Mae announcement yesterday has been met with more questions and concerns than support. The idea that they will sue people who intentionally walk away from their mortgages when in fact they have the means to pay their bills is not well accepted in the publics eyes. People have big questions over the Fannie Mae announcement. How will they decide who has some enough money left to take and who will make the decision? If a family has a little money left in savings to start over, is Fannie Mae going to take the last little bit of security that family has?

Critics and experts say its unclear what results Fannie hopes to accomplish with this move. The eventual cost to tax payers for the Fannie Mae and Freddie Mac bailout is estimated to hit $400 billion. This is a funny way to pay back the very people who are footing the bill. Some say its a "cruel joke." Lou Barnes, a Colorado mortgage banker, said, "theyre bringing back the debtors prison, Fannie wants to lock people up in jail of negative net worth for much of the rest of their lives."

The Fannie Mae plan is said to be in direct conflict with President Obamas plan to restart our weak housing market. The Obama administration has been lowering interest rates, insuring millions of new home loans, and offering tax credits in hopes of helping the housing market get back on its feet, also attempting to instill confidence in the American people again. A statement from a Treasury Department spokesman said that Fannie Maes plan did not represent official Obama administration policy. This is a difficult road for our country. There has been a lot for the American people to accept the last couple of years; this just might be too much for some.

Read More from the New York Times

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An already popular Fannie Mae is going to hold home owners to their contracts, even if they are completely upside down. More and more people these days are deciding to simply walk away from their mortgages, deciding that the hit to their credit is worth getting out of a contract where they are paying at least 20% more than the house is currently worth. With employment down in the U.S. and the housing market tanking, people just can't hold on.

Now Fannie Mae is going to make sure they get theirs. If they have evidence that people had the means to stay in their homes and chose to default on their loans they will not secure another loan for up to 7 years as well as take borrowers to court seeking to recover losses through deficiency judgments.

The good news is that if you lose your job, have an illness, get a divorce, or are otherwise unable to make your payments they will work with you to come up with alternatives. Pray for an illness! Terence Edwards, Fannie Mae's executive vice president for credit portfolio management said in a press release, "Walking away from a mortgage is bad for borrowers and bad for communities, and our approach is meant to deter the disturbing trend toward strategic defaulting." Makes you wonder how the bailout is working out for them.

Read the full article from Inman News

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A much needed boost to the Denver economy is coming in the form of affordable housing built with low-income housing tax credits. This will also result in hundreds of new jobs for local residents. The report was given to public policy makers and housing advocates by Elliot Eisenberg, senior economist at the National Association of Home Builders.

People underestimate the impact low-income housing has on a local economy. It is often thought that people in subsidized housing do not contribute to the economy as much as others. However, the opposite turns out to be true. Due to their situation, living paycheck to paycheck, they spend everything they earn on education, health care, etc. which contributes greatly to the economy.

To find information about affordable housing, go to www.hud.gov and Colorado Housing and Finance Authority

It looks like local residents will enjoy $57.6 million in income, $5 million in taxes and 732 jobs the first year alone, and will increase thereafter.  Much of the new development will be focused around Denvers light rail and rapid bus transit system that voters approved. They also want to spread the development around, not putting it all in the "bad areas of town."

No matter where the development is, people are sure to appreciate the boost to our economy. Local residents have been long awaiting a sigh of relief.

Read the full story at Inside Real Estate News

These are true lofts inspired by a heritage of classic old world American charm. SteelBridge Lofts, located at 1800 15th Street, offers a modern touch to hip urban loft living. Steel Bridge Lofts offers forty-five luxury residential lofts in the heart of Downtown Denver's Historic LoDo District. Convenient to Denver's sports stadiums like Coors Field and Pepsi Center as well as Invesco Field. Also some of Denver's prime restaurants, shopping and theaters are all within minutes of your Steelbridge Location. Steelbridge is also just minutes away from Union Station, Light Rail and The Denver Center of Performing arts.

LOCATION: 1449 WYNKOOP STREET in Denver,Colorado 80202

http://www.denverloftsandcondos.com/steelbridge-lofts-for-sale-lodo

For more information about lofts and condos for sale in the Steelbridge Building of Lodo, including availability, or special programs...Contact Us 24/7/365 or call toll free 800-934-7356.

Real Estate Market Research Report for Denver Zip Code 80202: Condo Properties, 7-day to 90-day median comparison.