June 10th, 2009
Mortgages Fail – A Lot of Them
Posted by
Lei in
Uncategorized
Mortgages are indeed at some of the lowest levels in recent history yet there are also a lot of defaults meaning a huge percentage of these mortgages/housing loans are falling into default. Lenders are already burdened with a lot of inventory, not being able to dispose of them at their previous prices or at the listing price. Banks and other lenders on the commercial scale are however finding it easy pickings for with properties selling at ever lower prices, they are having a party gobbling them up and adding to their inventories for sale at higher prices or developed into investment properties for future generations. Seems we will have to wait for the recovery period which isn’t coming anytime soon.
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