lending: Why Banks Stopped Lending
- 06/01/15 01:48 PM
During the housing crash, which we are slowly recovering from, one thing that frustrated me the most was that banks were not lending. I was working hard to stay afloat and get people approved for a loan, but to no avail. People with good scores were being denied. I didn’t understand to recently why that was. I had drawn my own conclusion that they were just afraid and that no one would pay for their new homes and foreclosures would be worse than it already was at that time.
Now I have learned why banks had stopped lending. It appears that banks … (2 comments)
During the housing crash, which we are slowly recovering from, one thing that frustrated me the most was that banks were not lending. I was working hard to stay afloat and get people approved for a loan, but to no avail. People with good scores were being denied. I didn’t understand to recently why that was. I had drawn my own conclusion that they were just afraid and that no one would pay for their new homes and foreclosures would be worse than it already was at that time.
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