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Closing on a house with the Debt crisis looming
Posted on 7/24/11 at 1:25 pm
Posted on 7/24/11 at 1:25 pm
What are the expected consequences to the housing market if this debt crisis actually comes to fruition?
Prices continue to go down?
No buyers?
Cheaper prices, increases buyers?
Increasing interest rates?
Decreasing interest rates?
Prices continue to go down?
No buyers?
Cheaper prices, increases buyers?
Increasing interest rates?
Decreasing interest rates?
2
Posted on 7/24/11 at 9:18 pm to lesmiles13
increasing rates
fewer buyers
prices go down
Right now prices are "low" because of the over valuation driven by free money in the past. Now banks require more money down, proof of employment, better credit rating, etc, etc..
The banks and mortgage companies did this to themselves. Hope you got a fixed rate!
fewer buyers
prices go down
Right now prices are "low" because of the over valuation driven by free money in the past. Now banks require more money down, proof of employment, better credit rating, etc, etc..
The banks and mortgage companies did this to themselves. Hope you got a fixed rate!
Posted on 7/25/11 at 3:06 pm to lesmiles13
If they go in to 'default' will the government have any money to back FHA/VA/etc. loans?
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