Lack of liquidity in the credit markets continues to drive real estate prices down around the world. Until such times as the banking system is stabilized (although the fear is of course, hyperinflation, after the world’s central banks have printed what ampounts to trillions of dollars, pounds and euros). These are some recent articles covering the problem.
While many individuals are facing issues refinancing with poor credit, the malaise is spreading into the luxury hotel and commercial real estate sectors now. Many analysts (myself included) consider the commercial property meltdown to be potentially more damaging than the sub-prime mortgage mess….. Refinancing with poor credit
A home in Barrington Hills has earned the dubious distinction of “Chicago’s most expensive foreclosure.” The home in question previously earned the title of “Chicago’s most expensive home sale,” in 2006. Most expensive foreclosure
But the current credit crisis has bought something plainly into view – the fact that none of the world’s banks are creditworthy. This is the root of the current “credit crunch.” poor credit refinancing
A 100% home equity loan is a loan against the value of your house. Or rather against the the total value of equity you own in your house. During the recent credit boom, these loans were freely available to almost anybody with a pulse. 100% home equity loan
As the recession continues lumbering it’s way through the world’s economies, a large number of people are finding themselves in the position of needing to refinance with poor credit – either their their homes or other debts, which is difficult while their credit rating is damaged.
Clearly, the problem of refinancing has not gone away – nor is it going to for the short term.
