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U.S. housing gridlock can be solved by reducing principal

Posted on 14 November 2011

One of the current economic problems America faces is the housing gridlock that results from about a quarter of American homeowners having no or negative equity. Homeowners that have negative equity cannot sell and buy another house because they will not cover their loan when they sell, and they will have no money for a down payment on the new house.
The problem does not seem to be getting solved. There are about 2 million homes in foreclosure and just this week, home prices continue to decline, as renewed signs appear that the delinquency situation may be deteriorating further………………………………………..Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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