washingtonian best places to live::All over the country there is an epidemic of foreclosures and to make bad matters worse, houses are not selling washingtonian best places to live

washingtonian best places to live::All over the country there is an epidemic of foreclosures and to make bad matters worse, houses are not selling.
I live in a quaint little town.
About three years ago the economy was on fire.
My town was listed in the washingtonian best places to live issue a couple years in a row.
As a result, for a while it was almost impossible to purchase a home in my town because there were bidding wars going on like crazy.
That was only three years ago.
My, how times have drastically changed.
The home is beautiful.
The work done on it is impeccable.
In spite of all of his efforts, that house has been sitting there, unsold for 4 months at least.
This does not look good, everyone.
Fuller said subprime borrowers were probably also attracted to the spate of condo projects in silver spring and bethesda during the housing boom.
Lenders offered a record number of subprime loans to borrowers in the d.
Metro area in 2005 and 2006, according to the center for responsible lending.
Such loans often come with low initial interest rates that jump drastically after two or three years, at which point many homeowners find themselves unable to afford their mortgages, triggering foreclosure.
Yes, everybody a few years ago was qualifying for a home, regardless of credit rating or salary.
Such people were tricked into getting into a home they could not afford in an area they could not afford and now they are feeling the effects of that horrible decision.
I blame much of it on lenders and shady real estate agents who engaged people in those shady deals.
The world is in trouble, folks.
We are spending trillions on war while our economy is falling apart at the seams.