Wall Street Banks Plan To Crash The Housing Market Again!

Wall Street Banks To Put Tight Restrictions On Borrowing In Post COVID-19 World. They Plan To Collapse The Market And Run Away With Billions


wall street banks
It’s deja vu all over again! Wall Street banks are planning another big money grab by decimating the housing market.
Wall Street banks have announced they are tightening lending guidelines after begging the Federal Reserve to buy up hundreds of billions of dollars of mortgage-backed securities. The fed agreed to buy the securities hoping it would boost liquidity for banks. The Fed hoped it would encourage them to lend more money to jumpstart the devastated economy.
However, banks like JPMorgan Chase are doing the opposite. JPMorgan Chase has led the charge to raise standards. The nation’s fourth-largest bank jacked up its borrowing standards on home loans. It also suspended HELOCs and other credit line programs.
Homebuyers seeking a mortgage through JPMorgan Chase must now have a credit score of at least 700 and must put down 20 percent of the total purchase price. The bank said it is shifting focus to refinances, which have taken off amid historically low mortgage rates.

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