Banks and other lenders across the US have been tightening their credit standards and not just on mortgage loans.
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According to Moody’s Economy.com housing prices across the US are expected to fall more than thirty percent before it recovers.
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RealityTrac, an independent company that tracks foreclosures in 100 different major cities, released its numbers today and the outlook doesn’t look good.
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Affordability, problems getting mortgages, and the current reluctance on the part of buyers are wreaking havoc in the area of California that makes up Pomona Valley, Greater San Bernardino, High Desert, North Riverside County, & South Riverside County.
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There’s been a lot of talking about it from lenders and government agencies, but there hasn’t been a lot of it going on.
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Jeffrey Allen Herald, 49 of Phoenix Arizona, was indited on October 19th on two counts of fraud and artifices and one count of theft for providing unlicensed legal and mortgage services.
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After several years or record levels of commercial real estate investment, with soaring rents and building prices, the market has cooled off since the summer. With rising concerns of the credit market many recent acquisitions have dried up
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Approximately 300 people attended the event held by the Housing Opportunities Collaborative and the Legal Aid Society of San Diego.
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Despite a bad job report, jitters on Wall Street and a housing slump, the Federal Reserve appears reluctant to try to jolt the economy with a major cut of the central bank’s key short-term interest rate.
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Rising California home prices are no longer a sure thing. A buyer’s market has taken hold, reports the San Jose Mercury-News.
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