Thursday, July 1st, 2010

What is the downturn of the housing and credit markets?

Credit Markets
Victoria asked:


i need a good definition that explains it well bcuz i hear it all the time but i dont understand it.

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3 Responses to “What is the downturn of the housing and credit markets?”

standing when Says:
July 1st, 2010 at 6:16 pm

it means its harder to get credit, & bank loans, bcuz, people are defaulting on loans, credit cards, & home mortgages

Russell S Says:
July 4th, 2010 at 1:50 am

Good finance question! I know of an organization that gives up to $1500 to people to help them with their rent or mortgage. It’s available in most US cities, I highly suggest you check it out.

Best of Luck.

livinhapi Says:
July 4th, 2010 at 3:23 pm

it will be harder to get credit, loans, people foreclosing on their mortgage payments, lots of people filing for bankcruptcy, and lots of people losing their jobs and also businesses closing and then recessions…hope and pray that it will not go that way but it really does not look good, thanks that our government is doing something about it with actions and economic stimulus and hope its works….god bless us all and good luck to all of us.

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