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First Direct Won't Give Mortgages

First Direct Won't Give Mortgages

To show you how bad the Mortgage market is... First Direct (online Mortgage company) Won't Give any new Mortgages. On one hand you have people trying to sell their houses and another set of people who cannot get mortgages to purchase those houses!

Mortgages Give Wont Direct First

Unfortunately that is how everything is these days its a vicious cycle and salaries are not increasing to compensate. One good thing is that it will force the prices of homes downward.

First Direct Won't Give Mortgages History & Civil Business Politics

Forcing the prices of homes downward is not a good thing to those who own homes. They are going to see their equity in their homes go down thus making it harder to get a loan using your equity to do improvements or send a child to college. It is going to get tough for everyone before it gets any better.

Mortgages Give Wont Direct First

I often wonder if it's all these real estate agents running around pumping up the prices that is the root cause of high priced homes? Now that all the prices are inflated and no one can afford it what do they do, start selling insurance?

Mortgages Give Wont Direct First

First time home owners mortgage is sold here to all who do not have the 25 % to put down on the home. It also protect against some other major issues.

More I think is just the big city centers are running out of room so prices go up. yes the Realtors encourage it to occur to the max possible but really we are at fault. If a person refused to get into bid wars and to pay the asking price then the inflation rate my go slower. If the prices drop the entire economic structure of a city is very much endangered as the interest rates will be outrageous and every one will lose their homes and more.

A better way is to be more selective to whom you give money to and that will slow the market down with less negative impacts. The other is a very slight increase in interest rate. It encourages people to not over mortgage. I really do not wish to see a repeat of the eighties.

First Direct Won't Give Mortgages

I think it is going to continue to get worse as the year goes by. I think consumers who though that a variable mortgage interest rate would save them money have found out that they are not saving like they thought. This is putting a more increased bind on the mortgage industry. yeah the realtors do inflate the price of the home but a little homework will tell you the value of the home. Many cities have the homes tax records on line so a person can look the value of the house up. That will give them a realistic value of the home and give them a figure they would be willing to pay for the house.

All these people wo got into a home with a negative equity are getting deeper in debt as house prices continue to fall and they find themselves oweing a lot more than their house is worth.