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credit markets: Credit Challenge Society, lets fix it! - 10/18/10 11:00 PM
Back in March of 2009 I wrote " Credit Challenged Society", with all the foreclosures and shortsales and the like who would be left to buy. It is said that 25% of the houses are in some stage of foreclosure or not being paid as intended. The economy can not get traction with 25% of the people not viable consumers who can borrow.
The mortgage guidelines have to changed to take in account the foreclosures and shortsales that were market driven. I have been getting people who assets have been destroyed in the decline, however they are gainfully employed and have … (3 comments)

credit markets: Should Banks tighten credit at market highs or lows? - 05/09/09 09:42 PM
I read, that in a survey of senior loan managers, they had tighten credit over the past 3 month period.
For nearly a decade, while prices push higher by loose credit standards, it was ok to give money away for any credit, for any high price real estate that moved decisively away from the trend line and moving averages. This was a time of high prices rises, that a prudent loan manager should of tighten standards, simple due to excess increases in prices. Now that the worry period is over and prices have come down and the risk of further declines … (10 comments)

 
Richardstabile4 Rainmaker_large

Richard Stabile Bergen County New Homes Builder Realtor

Woodcliff Lake, NJ

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REMAX real estate associates

Office Phone: (201) 573-8811 x 331

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