FlintTalk.com Forum Index > Political Talk Topic: Flint is blacklisted for mortgages

Author    Post   Adam Ford F L I N T O I D http://news.yahoo.com/s/ap/20080320/ap_on_bi_ge/credit_crunch_lending;_ylt=AtVQswDQ1cgYkasDETVx6suyBhIF Leery lenders demand more from borrowers WASHINGTON - Just when consumers and the U.S. economy need banks to lend more freely, the mortgage industry is making it harder to borrow — even for those with good credit. Mortgage insurers, whose backing is required for borrowers who can't afford the traditional 20 percent down payment on a home, have already flagged nearly a quarter of the nation's ZIP codes where they refuse to insure some home loans. That encompasses a wide variety of neighborhoods: McMansions in Scottsdale, Ariz.; luxury Miami condos; 1960 ranch houses in Flint, Mich.; and early 20th century kit homes in Metuchen, N.J. The entire states of California, Florida, Arizona, Michigan, Ohio and Nevada — which have seen the highest foreclosure rates and the worst price declines — are blackballed on some mortgage insurers' lists.[/url] Thu Mar 20, 2008 6:44 pm  Ryan Eashoo F L I N T O I D Gosh more bad news for Flint Town! _________________ Flint Michigan Resident, Tax Payer, Flint Nutt - Local REALTOR - Activist. www.FlintTown.com Fri Mar 21, 2008 5:43 pm    Display posts from previous:   All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First

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