Thursday, March 7, 2013

NEW YORK MORTGAGE FORECLOSURE - CRISIS ON LONG ISLAND

Here is some more information that I pass along from the Long Island Mortagage Foreclosure Crisis seminar:

"FINDING: The most impacted areas have seen reduced lending, threatening economic recovery.
The areas identified as Impact areas" as a result of the foreciosure crisis have also seen large declines in home purchase lending from 2006 to 2010. The result is a "double-whammy" - foreclosures have increased the need for more home purchase financing, but less financing is available."

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