I was pondering how hard it is for many people to get a loan right now I came to this conclusion: HOME FINANCING IS TOO TIGHT!
I understand it was way too lose in the past, but it is so tight right now the banks that are trying to cut there loses by tightening will be losing it on the back in with the homes that they (REO LISTINGS) own that are sitting vacant because very few people can get financing for them. Plus, as they stay tight with their lending the supply of homes will stay high would further cause prices to come down.
So what do you suggest? What needs to happen? I want to hear others opinions and ideas! Thanks!
Chuck Carstensen is a Realtor with The Discovery Team at RE/MAX; helping buyers, sellers, and investors of residential real estate in Isanti, Anoka, Sherburne and Wright County. He is a speaker and co-author in the best selling book series Wake Up...Live the Life You Love: Your Wake Up Moments (available soon). Carstensen is also a personal development mentor with Success University...where he helps people discover how to be more successful in business, life and health.