credit: Credit Crunch - 12/03/08 03:17 AM
There is a lot of speculation that the credit crunch is going to tighten further.  I'm already seeing it in the mortgage industry.  Credit scores are dropping.
People with good credit are beginning to be affected.  The credit companies are tightening their requirements in general.  The biggest problems I am seeing is that available balances on credit lines and credit cards are being reduced.
As the gap between available credit and outstanding balances close, scores are being adversely affected.  It is making it appear that borrowers are maxed out on their credit cards and lines of credit. It is not just the … (3 comments)

 

Dan Chambless

Hoover, AL

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Capstone Mortgage, Inc.

Address: 212 Business Center Drive, Birmingham, AL, 35244

Office: (205) 987-3431

Fax: (866) 530-9750



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