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Old 07-30-2007, 10:52 AM
 
Location: between here and there
1,030 posts, read 2,971,310 times
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Default rates are rising and so are foreclosures - a 40 percent increase in New York last year. At the same time, the lending industry is full of companies that gave "creative financing" to people who clearly could not afford to pay their mortgage over the long term.

Living in upstate, I saw the above stated nightmare coming two years ago when it was being reported that homes all over the country were skyrocketing in value and peopel in turn, were draining out their equity......the banks and mortgage companies laid the floor plans for this housing disaster and it will be years before there is any profitable turnaround in the market.....
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Old 07-30-2007, 11:12 AM
 
1,876 posts, read 2,416,987 times
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Quote:
Originally Posted by wardlwag View Post
clamboy, that is remarkable that the open house went so well, brokers constantly complaining that nobody comes...a good sign..good luck, let us know and when you move will you cross over to the Conn. Forums or will you keep us amused here?
Its the best one we had to date.
We actually had two families in at once.

Probably just shoppers but I think we priced the house fairly well.
Thanks for the encouragement guys

C
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