If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that
The credit crunch and the great depression of 2007 has played a negative role in the US real estate market. The housing market is still on its way to recovery from the recession. Effect of recession in real estate market From the very past the US real estate market has played a very important role in giving a shape to the usage of urban land. According to the principles adopted, it gave the owners the opportunity to earn maximum value for his land. But the recession of 2007 has led to unemployment, and as a result, the demand for house has lessened and new constructions have also become very few in number. Though many first time home buyers are there in the market, but, the fewer number of sellers could not meet the buyer's demand. As a result, the profit decreased, price of inventories increased, sales went down and the US real estate market has faced an incredible number of foreclosures. According to the National Association of Realtors (NAR), the number of homes that received foreclosure notices in 2009 is 3 million. Recent situation in the real estate market To make up for the loss, the government has introduced option ARM, by which the home buyers can choose how much they want to pay each month during the 'start period' of the loan. They have the choice of paying from the following options:
- a 30-ear fully amortizing rate
- a 15-year self amortizing rate
- interest-only payment
- a base rate ( which does not cover the monthly interest costs)