Mortgage Meltdown – “The Party Is Over”

ABC News had a good interview with a mortgage broker. His exact words to his real estate agent clients were “The party is over”. Last year, people were getting 100% mortgages on $600,000 and $700,000 homes even when they couldn’t prove they had any assets or income to guarantee repayment of the loan. If the housing market was hot in your area, there was somebody, somewhere willing to lend the money.

Now it’s back to “traditional lending standards”. Until the next time at least.

Readers – are you brokering mortgages from home? How is this affecting you?

Are you an affiliate marketer who gets paid to generate mortgage and refinance leads? How’s this affecting your business?