Mortgage News: Americans Not Alone in Housing Woes

It’s turning out that American consumers aren’t the only ones grappling with mortgage and credit crunches, according to international news reports. In Britain, Channel 4 News reports that March saw the fewest number of new home loan approvals in a decade. In Sydney, news reports predict that up to 80,000 Australians may lose their home by September!

It’s a tough time to be a homeowner, that’s for sure. If you are a homeowner worried about losing your nest — or if you’re a prospective buyer hoping to take advantage of dropping house prices — you might want to check out our new Mortgage Town site.

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One thought on “Mortgage News: Americans Not Alone in Housing Woes

  1. Yes the housing woes have definately spread beyong America. I have no idea what caused housing woes overseas but one only has to look at the State of the Unions in 2002 and 2004 given by president Bush. In those State of the Unions president Bush mandated Freddie Mac and Fannie Mae to eliminate down payments and ease credit restrictions. Many lenders saw this as a green light to do anything they had to do to make home loans. The result is one of the worse (and soon to be worse) housing catastrophes this country has ever seen.

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