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Libby Lombardo CEO of Leverage Property Sydney based Property Development and property development education company, recently featured on the Expert Panel on the TV show ‘Real Estate News with Mark Tonelli’ for more information on Libby Lombardo and property development advise go to www.leverageproperty.com.au

I am in the process of buying a house but I need to sell mine ASAP. I am worried that the lenders are not lending out money which would make my house very difficult to sell. My question is When the Bailout Bill is passed how long will it take before banks start lending money again and people with decent to good credit can get a mortgage? Days, weeks, months, years?

I know that my house is priced for a quick sale but if mortgages are frozen I will be stuck paying 2 mortgages.