Financing In The USA

[elvenrunelord]

Many people are now finding it harder and harder to get financing in the USA due to the literal meltdown of the housing market. Most markets are down 10-15% and some bloggers are suggesting not to purchase unless you can get a property for 35-40% under its current value. They believe that the correction has only started.

[KrisNY]

You are right- Banks are being tighter on who they will loan money to. Mortgage companies are closing. It's tough to get a mortgage these days. This makes buying houses harder- It really is a sellers market if you can get a mortgage.

[jhellie_baby]

Aside from the high cost of living in the US, properties are also very expensive.

[ALICIA21]

Originally Posted by KrisNY

You are right- Banks are being tighter on who they will loan money to. dallas home loans Mortgage companies are closing. It's tough to get a mortgage these days. This makes buying houses harder- It really is a sellers market if you can get a mortgage.

I think it will get better. we will have to see what happens

[agentyumi]

This circumstance is very sad to hear. There are numerous of houses which being repossessed because of many mortgage holders being unable to keep up their monthly repayments nowadays. The mortgage crisis tipped the first domino in an economic collapse that has threatened to destroy the US financial system.

I read somewhere that congress has just approved a $700 billion proposal to bail out the economy by supporting failing banks.

I hope our economy could cope up soon.