Outlook for 2011 and 2012: Loan Modification, Interest Rates & Taxes Predictions

As we close out 2010 I just want to say that it's been another roller coaster year just like last year CHECK IT OUT  While i was wrong about interest rates going up this year I do still believe they will go up in the future which i now see anywhere between the next 12 to 24 months.  Also I see higher taxes for everything that can be taxed will be taxed!!! Our Governments will need to find ways to make up revenue somewhere since unemployment will continue to rise or at best stay where they are at.  The elephant in the room that no one is still talking about is the continuing of the foreclosure and shadow inventory of homes many states are not reporting since that would spook everyone out.

As with everything it will come back full circle since a foreclosed home costs not only the person that owned the home but the surrounding homes as lost value.  Also costs City, County and then State and Federal governments revenue in the long run.  I see 2011 and 2012 are going to be some more difficult years for all of us and I feel that with all the data that is out right now I believe the Government and Banks will have no choice but to streamline the loan modification process.

I have seen many approvals this year and I see the moving trend towards that direction for the forseeable future.  What i advice many people to do is secure your financial foundation do not wait until your behind on your house payment 3 to 6 months to look for help! I still see many homeowners keep paying on their car or credit cards before making their house payment...WHY??? Banks are in a bad spot do not believe all the "Good News" you hear on the News or read on the internet! Banks will work with you but you first need to speak up and ask for help or if you do not have time hire someone i know it's hard to find people that are honest or care about your financial well being but there is Ask around to family and friends! Well that's my opinion on where we are going and if you decide that you need help I'm here for your Debt Settlement, Loan Modification, Refinance and Short Sale needs.  Good Luck!