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Discussion Starter #1
I wrote an article about this problem.

http://www.milliondollarjourney.com/mortgages-not-being-renewed.htm

I just want to get the word out that some companies are actually bankrupt such as Accredited Home Lenders and some are just not renewing certain types of mortgages such as ResMor.

So be aware if you have a mortgage with one of these institutions you will have to renew elsewhere. If you can learn soon enough you can possibly work on your credit, your income if you are self employed so that you qualify.
 

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It's interesting that you brought this up. I have an inkling that this might be a sign of some greater trouble coming down the pipe for real-estate markets. It's quite possible that lenders see increased defaults as rates move upwards, as well as people abandoning their recent mortgages following a sharp price correction. I'm increasingly convinced that a decline is on the horizon.

What do you think?
 

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Well no one has the numbers on how many of these mortgages there are.

I'm not sure if we are on the verge of a decline just yet. I did hear that there was lots of inventory compared to this spring when everyone rushed out and bought.

More likely is an adjustment where we just kind of float along without any increases in the prices.

Personally I am a very careful buyer. I wouldn't buy anything I couldn't add value to.
 
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