We saw the same thing happen in the early 1990s. After a big boom in the real estate market, interest rates went up, the loans were not so easy to get, you could buy less home for the same payment and therefore, the prices of the homes had to fall to accommodate the buyers payment. The lending institutions are tightening up their belts. They have to because they were lending to people who probably shouldnt have received loans in the first place. You know it and I know it.

Do you remember what happened in the early 90s. I do. I got caught up in the boom and decline. I remember buying a house, putting 50k down and was happy to have my new home. The problem is, after about two or three years of a declining real estate market, my home was worth about 75k less than what I had paid for it, I had no equity and my 50k was gone in an instant. I remember several people being upside down including myself. I had nowhere to go. I couldnt sell my home as I owed more than it was worth.

Unfortunately, we are in the same market right now. Home prices are falling like a ton bricks. People are upside down in a big way and interest rates are going up, not down. All I could do was hang on and wait out the market, so I did. I stayed in my last home for 15 years and the price of the home tripled. Unfortunately, Most of America doesnt have that luxury. People find themselves moving for a growing family, job relocation and several other reasons. If you find yourself in this situation, you have two choices. Run and run fast, file bankruptcy and start over for the next 10 years.

You could wait it out like I did and just be content on where you are. If you are in the real estate or mortgage industry, you had better rethink your income strategies for the future. There are companies out there producing staggering incomes for real estate and mortgage professionals. To take a look at a company that is having its best year ever, come to this website below.

Kingdom Life Now
Chris Rose
http://www.kingdomlifenow.com
express1974@yahoo.com
561-261-6100