What created today's market? Many homeowners and real estate professionals are asking themselves this. The slowdown is largely due to the demand started by the global investment market and by individual investor/speculators. In other words in the year of 2000 the world's pool of dollars exploded, between 2006 and 2007 it doubled. Therefore Wall Street ceated new ways to package mortgages, then sell them and pass the money and risk to the investors. These loans required little information on buyers income and assests. Unfortunately lenders used adjustable rate, interest only, and other loans much more frequently and possibly mis-used. We are now seeing the affects of these mortgages.
Patricia Fisher, REALTOR
CRS, GRI, ABR, ASR
Keller Williams Realty
864.494.7818
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