Real Estate Investing and Private Lending – Well, Is There Blood in the Street Yet?
Friday, December 19th, 2008
The financial events of the last several weeks have most peoples head spinning. If it is not Fannie and Freddie being bailed out, it is AIG, Wachovia, WAMU or Lehman failing and forcing the US Government to take them over or filing bankruptcy.
And now we have passed a $700 billion bailout package for the Wall Street banks. As a result of the credit crises, the real estate mortgage market is freezing up and banks are now requiring super human credit scores and multi-year employment history to get a mortgage for homeowners or real estate investors.
Real estate investors are really getting hit hard and have no shot at getting traditional mortgages and are being squeezed out of the mortgage market. (more…)