Well times aren't getting much better. The strong will survive this market...or at least those that can weather the storm we should say! We have broken out a few intersting articles at www.InvestSmarter.com to target in on what we are seeing but here is an interesting story about lending:
Daily Real Estate News July 1, 2008Mortgage Ruling Could Have Big Impact The 7th U.S. Circuit Court of Appeals is expected to rule sometime this month on a case that could force the U.S. banking industry to cancel or rescind loans if borrowers prove that their lenders violated a federal lending disclosure law.The decisions stems from a lawsuit filed by a Wisconsin couple who last year sued their bank and sought class action status. The judge not only agreed to that but also ruled that borrowers could force the bank to rescind their loans as a class remedy.Should the 7th U.S. Circuit Court of Appeals agree that rescission be a class remedy, banking industry analysts predict "confusion and market disruption" as banks curtail lending further."If class treatment is found to be available for rescission ... the result all over the country could be massive class suits," says Christine Scheuneman, a partner at Pillsbury Winthrop Shaw Pittman LLP, which represented Chevy Chase Bank in the initial lawsuit. Supporters of rescission as a remedy say the banking industry is overstating the results of such a ruling. Both sides agree that the U.S. Supreme Court will likely decide the case.Source: Reuters News, Gina Keating (06/30/08)
The key is knowing the facts of any piece of property whether in Destin Florida or in Northwest Florida in general. Play close attention to the www.destin-florida-condominiums.info market and also the new site dedicated to Destin Real Estate in general at www.real-estate-destin-florida.com for more information on what is available in today's ever changing real estate market.
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