Did you know that approximately one in three people who apply for a mortgage loan or refinance last year were denied approval according to the Federal Reserve? Overall, loan applications and originations were cut in half in 2008 compared with 2006!

Walk-aways are increasing! Despite postitive news on increased sales and in some areas, prices even going upward, many owners according to Housing Predictor  will walk away from their mortgages if housing prices continue to fall. In fact, a recent survey indicates one in three owners will walk away.