The Mortgage Meltdown by 60 Minutes
Scott Pelley reports on the mortgage crisis that's far from over, with a second wave of expected defaults on the way.
Original air date: 14 December 2008

The Mortgage Meltdown has contributed to the current decline of housing prices experienced in most markets nationwide as well as tightening of lending guidelines. But this is good news... wait... you read right, good news, and I'm not off my rocker.
Here's why the current market is GOOD:
  • Housing value decreases and increases are part of the natural (~20 year) cycle that we've experienced since World War I.
  • Lending guidelines have tightened so that you actually have to be able to afford new home.(Responsible lending really is good for everyone - yay!)
  • Housing is at it's most affordable level in a looooong time.
  • We can help if your experiencing a mortgage meltdown of your own, contact us now to hear your options, as time really does matter.

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Cheryl Tanguay, GRI

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Greater Newburyport
2 New Pasture Road
Unit 1
Newburyport, MA

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