Trouble Abroad is Good For Us

The European market is still particularly fragile in today’s economy. Last week, worries about the Greek bailout spurred the Dow Jones to fall to its lowest levels in over a month. While this could eventually be good news for Americans, who, with a stronger dollar will have more potential investments in capital, it can also deter other countries from buying exports in the long run, since they will be more expensive.

Europe has struggled with debt over the past decade, as the goal of an emergent united economy has been let down by countries like Greece, Portugal, Spain, and even Ireland. Today, the world fears a Greek default on bonds, which is why the rest of Europe, backed by the largest economy, Germany, is lending Greece the more than 54 billion euros it needs to stay afloat.

What does all this mean for the American home owner? It’s still a great time for a home loan modification. Loan modification help is easy, especially with interest rates still near record lows. Although signs of life are showing in our economy, there’s still a long way to go, and that means that interest rates will be kept low, and a home loan modification is welcome.