August 20, 2014 admin

HOW BANKS ARE MILKING HOUSE BUYERS

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Banks are still nursing the self-inflicting wounds caused by the credit boom that preceded the 2008 financial crisis, a time of easy credit when mortgages as high as 110% of a home’s purchase price were the norm. Yet ever since the credit bubble burst leave many a local bank with a mortgage book littered with loans that now exceed the value of their underlying properties, banks have significantly tightened their lending requirements.

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