Redding's Ups and Downs

July 14th, 2010 6:58 AM

FHA backed loans, to help home owners with negative equity, dropped 3 % in May. The really unbelievable fact is in a 30 day period, only 6 refi loans were processed.

What does this mean? I believe that if anyone wants to buy a house, act now before it is impossible to get any kind of a loan, especially when home owners who were able to get their loans refinanced, default for the second time.  The guide lines just keep getting stricter.

Posted by Bob and Tricia Mitchell, Realtors on July 14th, 2010 6:58 AMPost a Comment (0)

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