The current real estate crisis in the US is only going to get worse as the sub prime loans continue to switch from the honeymoon rate to the higher rate that has already seen many home owners pushed over the edge and out of their homes. This is an economic disaster that will continue to have serious effects on the US real estate market and the economy for years to come.
The banks should shoulder some responsibility for to the crisis after all they set the lending criteria along with the various financial institutions have made it very easy to obtain a home loan where in many cases the loan should never have been granted. Many people were steered into sub prime deals when they did not need to go that way, they could have easily qualified for a standard loan but were steered towards the sub prime deals by the lenders who were keen to pickup the more lucrative commissions. So now the time has come to pay and people are walking away from homes on mass, the banks are being forced to foreclose and property values are falling as a result.
Falling property values means many people end up in situation where they have negative equity in their homes, they can’t sell to repay the debt and the banks become very uncomfortable with the situation. The money market tightens up and the situation compounds. It’s a national disaster in the eyes of some, so much pain and suffering for families. The economic fallout is massive and will only get worse as America rushes towards a recession, the soft landing of the real estate market has turned into a giant crash and the ripple effect will travel right around the whole globe. The banks have now started to try and work with people to keep them in their houses and they are negotiating where possible.
The foreclosure market is running hot in almost every state, many construction companies are falling like flies and are offering amazing deals to maintain cash flow and viability. Oil has pushed closer to the $100 per barrel mark to add to the problems.
'The attention to detail and professionalism that Troy and his staff brings to our contract drafting process is unmatched. It’s a rare occurrence to find a law firm that cares as much about your legal protection as you do. But, Doucet Gerling is that law firm."
Mr. Doucet and his staff handled two foreclosures and a related matter for me. I found everyone in his office to be professional, effective and responsive. Everything he handled for me got me the results I expected. I highly recommend Doucet Gerling.
As an attorney and former client of Doucet Gerling, I was very impressed with the representation of Troy Doucet and his firm. I would recommend him to all who face difficulty in saving their home or getting cooperation with their mortgage companies.
If you need legal assistance regarding foreclosure, I urge you to consider putting your complete trust in Doucet Gerling. They will employ their vast knowledge and expertise on your behalf and work to attain a great outcome for your individual needs and situation.
"Troy Doucet is one of the most gifted attorneys that we have ever had the pleasure of dealing with. He treated us with kindness and generosity. We were most impressed with his integrity and high sense of duty to us. If you are looking for an attorney to get the job done we highly recommend Troy Doucet. Our family can never thank him enough for getting our foreclosure problem solved."
My company has worked with multiple law firms in the past, but none have come close to matching the quality we are seeing from Doucet & Associates. If you want an attorney who has a deep understanding of both the legal system AND business, hire them – you won’t be disappointed.
"Mr. Doucet worked wonders in my case. He stood up for me when I felt overwhelmed and helpless and kept my credit rating and future intact. Thanks you so much for helping me and my family."
"My family and I would like to send a thank you with sincere gratitude for all the time, hard work, and long hours set a side daily to represent and speak on our behalf during a very challenging time in our life. Our success is a reflect of your commitment. Thank you Troy Doucet & law firm."