Mortgage woes spread to pricey real estate
Posted in Mortgage by: MarieMarch 8th, 2010
Subprime woes spread to pricey real estate.
NEW YORK – The subprime mortgage crisis is spreading to a somewhat unexpected place: homes costing more than $500,000.
As lending has rapidly gotten more restrictive for borrowers taking out large loans, sales of expensive homes have fallen sharply around the country during what should be one of the busiest seasons for buyers and sellers, mortgage bankers and real estate agents say.