The economic crisis has been blamed on everything from Wall Street conniving to sun spots, but in truth the biggest part of the recession is due to overinflated credit expectations. Loan approvals which never should have been given the stamp of approval caused borrowers and banks to fall into a deep crevasse of debt. The solution for budding homeowners is simple, ensure your ability to buy and maintain your home.
Mortgage Crisis: When “Next Time” Arrives
January 5, 2011 by Khary Reynolds
Filed Under: Residential Tagged With: bankruptsy, banks, borrower, borrowing, foreclosed, foreclosure, home owners, lending, lending practices, loans, NY real estate, qualified loan, qualifying, recession, reposession, Wall Street
