Originally Posted by EASY STEP
You can't borrow anymore unless you have 20% down,and collateral, the banks have tightened up, and its a good thing, to prevent those people that cant afford the loans in the first place!
Yes but o b a m a is now scolding the banks for not lending enough. So the cycle continues. I can almost tell when I inspect a home for a couple that the house will be back in foreclosure. It is sick how many homes Ive inspected in the past 2 years that were in foreclosure and empty, bought and lost again to foreclosure. My point People quit borrowing more money on the house than what its worth and spending it on Chinese big screens and vacations in the islands. Not everyone is entitled to a home, Rent, live within your means. The bull marketing banks have quotas to reach, "They don't care if you loose your house in a year". That was a direct quote from a banker at national city bank in Holland Michigan. Awesome.