Ar_home_b_search
 



credit crisis: Credit Crisis Gets Personal...When cash isn't cash. - 09/26/08 02:06 PM
There was a time when you wrote a contract on a $650,000 home, with $350,000 down at closing, and felt good about the prospect of it closing. Not anymore.
I just had that exact deal terminate today, one week from closing. My clients were buying a home here using portions of their Ameriprise Cash Account to fund over 50% of the loan. They had the money in the safest type of IRA investment they thought possible. On Tuesday their broker called them to say, "Sorry sir, but your funds in our account are frozen. Our account is currently worth 95cents on … (0 comments)

 
Teamphotos_63_

Floyd Magee

Farmington, NM

More about me…

ERA Four Corner Real Estate

Address: 800 E. 30th Street, Farmington , NM, 87401

Office Phone: (505) 327-3900

Cell Phone: (505) 258-9381

Email Me

All Types of Real Estate Sales for San Juan County, NM Real Estate Blogs - BlogCatalog Blog Directory


Links

Archives

RSS 2.0 Feed for this blog