Wednesday, June 13, 2007

Subprime Mortgage Crash Squeezes First-Time Buyers Out of Housing Market

(Bloomberg) -- Josh Tullis, who in his eight years
as a senior loan officer rarely felt compelled to reject a
first-time home buyer's mortgage application, is saying ``no''
in 2007.

Tullis's latest clients are a married couple that banks
ought to love. Between them they make $70,000 a year and they've
been renting the same apartment for three years with zero late
payments, he said.


Read more at Bloomberg Exclusive News

No comments: