Comments on: A Glimmer Of Hope For Those With Bad Credit http://eventurebiz.com/blog/a-glimmer-of-hope-for-those-with-bad-credit/ A blog about thinking and growing as an Entrepreneur and winning online. Tue, 06 Jan 2009 09:31:01 +0000 http://wordpress.org/?v=2.7 hourly 1 By: John Hoff http://eventurebiz.com/blog/a-glimmer-of-hope-for-those-with-bad-credit/comment-page-1/#comment-1261 John Hoff Mon, 14 Jul 2008 21:01:28 +0000 http://eventurebiz.com/blog/?p=90#comment-1261 Hello Barbara. I did hear about Fannie Mae and Freddie Mac. I'm sure the government will step in though and make sure they are taken care of. Those services are too important to our economy. In addition to those new programs I mentioned I'm sure we'll start seeing, we can also expect to see a lot of "For Rent" signs popping up. Investors will buy and rent to people with foreclosures on their credit. Here in Vegas, we've been hit the hardest. A lot of people here are more than $100,000 upside down on their homes and that's why we have the highest foreclosure rate in America. Oh and me . . . a newsman, uh no way! I can't stand to hear my own voice. Hello Barbara.

I did hear about Fannie Mae and Freddie Mac. I’m sure the government will step in though and make sure they are taken care of. Those services are too important to our economy.

In addition to those new programs I mentioned I’m sure we’ll start seeing, we can also expect to see a lot of “For Rent” signs popping up. Investors will buy and rent to people with foreclosures on their credit.

Here in Vegas, we’ve been hit the hardest. A lot of people here are more than $100,000 upside down on their homes and that’s why we have the highest foreclosure rate in America.

Oh and me . . . a newsman, uh no way! I can’t stand to hear my own voice.

]]> By: Barbara Swafford http://eventurebiz.com/blog/a-glimmer-of-hope-for-those-with-bad-credit/comment-page-1/#comment-1260 Barbara Swafford Mon, 14 Jul 2008 20:52:32 +0000 http://eventurebiz.com/blog/?p=90#comment-1260 Hi John, Maybe you're in the wrong profession. Even consider being a newsman? You could see your name in lights... Yipee!!! Yipee!!!! :) Did you hear the news where Fannie Mae and Freddie Mac are in trouble too. That's certainly going to create even more havoc in the housing industry. I do agree, some concessions will have to be made for poor credit scores. Otherwise, who would be able to buy a house? With the increasing inventory of vacant homes on the market, (many owned by banks), something will have to happen so individuals can regroup and purchase homes again. In our area, we were in bad need of a correction (homes were SO overpriced). Now they are slowly dropping enough so the blue collar workers can realize the dream of home ownership. The only problem is, the banks tightened their lending requirements, and are not allowing for ANY glitches in credit ratings. Hopefully that changes soon. <em>Barbara Swafford's last blog post..<a href='http://feeds.feedburner.com/~r/bloggingwithoutablog/DWWZ/~3/334802736/' rel="nofollow">A Day In The Life Of A Blogger</a></em> Hi John,

Maybe you’re in the wrong profession. Even consider being a newsman? You could see your name in lights… Yipee!!! Yipee!!!! :)

Did you hear the news where Fannie Mae and Freddie Mac are in trouble too. That’s certainly going to create even more havoc in the housing industry.

I do agree, some concessions will have to be made for poor credit scores. Otherwise, who would be able to buy a house? With the increasing inventory of vacant homes on the market, (many owned by banks), something will have to happen so individuals can regroup and purchase homes again.

In our area, we were in bad need of a correction (homes were SO overpriced). Now they are slowly dropping enough so the blue collar workers can realize the dream of home ownership. The only problem is, the banks tightened their lending requirements, and are not allowing for ANY glitches in credit ratings. Hopefully that changes soon.

Barbara Swafford’s last blog post..A Day In The Life Of A Blogger

]]> By: John Hoff http://eventurebiz.com/blog/a-glimmer-of-hope-for-those-with-bad-credit/comment-page-1/#comment-1259 John Hoff Mon, 14 Jul 2008 16:27:44 +0000 http://eventurebiz.com/blog/?p=90#comment-1259 Hello Cath, Same thing going on here in America. Just last night while I was watching the news they did a story on one of the biggest banks in America near bankruptcy and how the federal government stepped in to help. You know I gotta say, many of these banks did it to themselves. A few years back a couple banks found ways to sell loans to people who couldn't normally afford such a high mortgage (they were the 3 to 5 year option loans that ballooned in monthly payments after that). They started selling a ton of loans which caused all the other banks to jump on the bandwagon. Problem is, couples earning $45k a year can't really afford a $350k house and once those low entry APRs expired, people <em>and</em> banks found themselves in trouble. By the way, I love your last post's title. I gotta click that! Hello Cath,

Same thing going on here in America. Just last night while I was watching the news they did a story on one of the biggest banks in America near bankruptcy and how the federal government stepped in to help.

You know I gotta say, many of these banks did it to themselves. A few years back a couple banks found ways to sell loans to people who couldn’t normally afford such a high mortgage (they were the 3 to 5 year option loans that ballooned in monthly payments after that).

They started selling a ton of loans which caused all the other banks to jump on the bandwagon. Problem is, couples earning $45k a year can’t really afford a $350k house and once those low entry APRs expired, people and banks found themselves in trouble.

By the way, I love your last post’s title. I gotta click that!

]]> By: Cath Lawson http://eventurebiz.com/blog/a-glimmer-of-hope-for-those-with-bad-credit/comment-page-1/#comment-1258 Cath Lawson Mon, 14 Jul 2008 10:18:05 +0000 http://eventurebiz.com/blog/?p=90#comment-1258 Hi John - Good for you being ahead of the news. This does give hope to people who have suffered due to the recession. Many banks in the UK are also in trouble. One bank has already been bailed out by the taxpayers and others are borrowing from each other. It really is a sorry state of affairs. Given what is going on, I'm betting your prediction is pretty accurate. <em>Cath Lawson's last blog post..<a href='http://feeds.feedburner.com/~r/SuccessPasscode/~3/334434822/' rel="nofollow">Toxic Relationships - Does Blood Matter?</a></em> Hi John - Good for you being ahead of the news. This does give hope to people who have suffered due to the recession. Many banks in the UK are also in trouble. One bank has already been bailed out by the taxpayers and others are borrowing from each other. It really is a sorry state of affairs. Given what is going on, I’m betting your prediction is pretty accurate.

Cath Lawson’s last blog post..Toxic Relationships - Does Blood Matter?

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