The Real Estate Short Sale - Key Investment Opportunity for 2008The real estate foreclosure explosion continues to wreak its havoc upon consumers and corporations alike.
On the consumer side, we are seeing tighter restrictions on mortgage lending, which makes it harder to obtain a mortgage loan. This is one of the reasons I keep chiming in about keeping a good credit score ... it is the most important thing consumers can do when facing the financial uncertainty we are now facing.
On the corporate side, many of the same lending institutions that got us into this mess (by loaning money to people who had no business taking on a mortgage loan), have suffered meltdowns all their own. According to their website, Ameriquest is no longer accepting applications for home loans. And Bank of America recently announced it will buy Countrywide.
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Real Estate Short Sale as Investment Opportunity