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Emerson Discusses Issues Related to Home Buying Industry

September 14th, 2007 by mopns · No Comments

Jo Ann Emerson (center) gathers with area Realtors after a luncheon discussion Wednesday at Rosener’s Restaurant. – Paula Barr | Daily Journal

By Paula Barr

PARK HILLS – Sub-prime lending rates and escalating rates of adjustable mortgages have led to a spike in forfeitures in the housing market, a problem that Congress is struggling with, U.S. Rep. Jo Ann Emerson said Wednesday at a meeting with area Realtors.

Emerson participated in an informal luncheon at Rosener’s Restaurant in Park Hills with nearly a dozen Realtors and local officials. During lunch, she answered questions and filled the Realtors in on issues related to the home buying industry.

An increase in the number of home foreclosures and decreases in property value are among the problems frustrating real estate professionals and reducing their successful sales.

“There would have been more Realtors here today, but they starved to death,” joked Fred Neal, federal political coordinator for the National Association of Realtors, 8th District in Missouri. Read more…

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