More than three out of four Americans believe mortgage fraud wrecked the booming real estate market, according to a poll conducted by Housing Predictor.com, an information driven web site, which forecasts local housing markets in all 50 U.S. States.
A nearly over-whelming majority of 76% of respondents said that loan fraud has had a negative effect on the markets. The poll was conducted over a 45 day period ending May 11, 2007. Another 20% of respondents said they believed that loan fraud did not have an impact on real estate, while the remaining four percent were undecided.
The Predictor Poll is timely especially since Congress is considering enacting new laws to control the mortgage industry further as a result of the growing sub-prime loan crisis.
The rate of foreclosures rose 47% nationally in March from loose lending guidelines and unscrupulous lender and mortgage borrower practices.
The nation's foreclosure rate, however, was much higher during the U.S. Savings and Loan Fraud Crisis in the early 1990's. That crisis resulted in major bailouts by the government costing every man, woman and child in the nation an estimated $10,000.
Congress is considering new laws to control the mortgage industry, which many feel would cause a backlash for homeowners, many of whom need to refinance out of adjustable rate mortgages coming due and result in an even higher rate of foreclosures.
The increase in foreclosures has been part of the Housing Predictor forecast model since the beginning of 2007, long before the rise in foreclosures. Researchers for Housing Predictor became aware of the growing problem of mortgage fraud more than two years ago.
Despite the increase in mortgage fraud cases and the resulting hike in foreclosures, at least 17 states have some local housing markets which are performing strongly and are appreciating. Housing Predictor forecast in early March that the number of appreciating markets would increase to include more housing markets by late summer.
Housing Predictor regularly surveys visitors for their opinions on crucial economic issues related to real estate, widely considered as the single largest driving force of the U.S. economy. Some 68% of the nation's population are now homeowners, an all-time high.
- Related Articles
- Related Q&A
- Reprinting Articles: 10 Smart Strategies to Sidestep the Duplicate Content Debate
- Articles For Free Reprint, How Can They Help?
- Free Reprint Articles: the Secret to Increased Web Site Profits
- Five Steps Of Your Success In Using Article Marketing
- Article Marketing:-Articles To Drive Targeted Traffic To Your Blog
- How to Turn a Third Party Informational Article into a Power Marketing Tool
- Article Marketing: the Small Business Owner's Secret Weapon
- Using Article Marketing to Get More Website Traffic




no credit check houses owner finance home California
By: ownerfinance | 16/11/2009No credit check houses and homes via owner finance in California.
no credit check houses owner finance home California
By: ownerfinance | 16/11/2009No credit check houses and homes via owner finance in California.
no credit check houses home California
By: ownerfinance | 16/11/2009No credit check houses and homes via owner finance in California.
Owner financing-What’s in it for you Florida?
By: ownerfinance | 16/11/2009owner financed houses homes Florida no credit check
Owner financing-What’s in it for you Georgia?
By: ownerfinance | 16/11/2009owner financed houses homes in Georgia no credit check
Owner financing Georgia
By: ownerfinance | 16/11/2009Owner finance houses homes in Georgia
Guidelines for Great Open Houses
By: Katrina | 16/11/2009Open houses may be part of your selling strategy. Although some real estate agents think this is not that effective in resulting to a sale but at times like this, open houses should not be underestimated. Everybody knows how difficult it is to sell. Therefore, any seller needs all sorts of resources that can help him or her close the sale in a short span of time.
Rent or Buy: Which is the Better Option
By: Katrina | 16/11/2009Which among the two is really the better option. If you know how both works, you can definitely see that the practicality of these choices would be based a person's current status. For example, if he or she has enough funds, as well as, qualified to get mortgage with good deals, then buying a home is a good option. On the other hand, having not enough funds and getting a feel of a particular place makes renting a better option.
Foreclosures Forecast To Top 2 Million Homes
By: Mike Colpitts | 07/06/2007 | Real EstateAt least 2.1 million homes, condos and townhouses will be foreclosed in the U.S. in the next two and a half years, accounting for the highest number of foreclosures since the U.S. Savings and Loan Fraud Crisis, according to a new forecast by Housing Predictor. The forecast is based on an...
Washington, Oregon And Idaho Real Estate Markets Make Top 25 Forecast
By: Mike Colpitts | 03/06/2007 | Real EstateReal estate markets in Washington, Oregon and Idaho composing the greater Pacific North-West have made the annual U.S. Housing Predictor Top 25 market forecast. Housing Predictor, which is an information driven web site forecasts more than 250 local housing markets in all 50 states, and names the Top 25 markets...
Housing Predictor Reports U.S. Real Estate Turn Around
By: Mike Colpitts | 26/05/2007 | Real EstateMore than half of the nation's housing markets are appreciating or have at least stabilized, according to the latest national assessment conducted by Housing Predictor, an independent information driven web site, which forecasts housing markets in more than 250 markets in all 50 U.S. states. Some 56% of the nation's markets...
Americans Believe Mortgage Fraud Wrecked Real Estate Market
By: Mike Colpitts | 18/05/2007 | Real EstateMore than three out of four Americans believe mortgage fraud wrecked the booming real estate market, according to a poll conducted by Housing Predictor.com, an information driven web site, which forecasts local housing markets in all 50 U.S. States. A nearly over-whelming majority of 76% of respondents said that loan fraud...
New Orleans Falls In Top 25 Real Estate Markets Forecast
By: Mike Colpitts | 07/05/2007 | Real EstateNew Orleans, Louisiana, which had ranked as the Top appreciating housing market in the Housing Predictor Top 25 Markets Forecast for 2007 has fallen to fourth position, despite healthy projected appreciation for the year. The housing market in Albuquerque, New Mexico is appreciating at a higher level causing the change in...
Hottest 10 Buyers Real Estate Markets In 2007
By: Mike Colpitts | 01/05/2007 | Real EstateThere are still hotly appreciating real estate markets in the U.S., according to a nationwide survey conducted by Housing Predictor.com, which forecasts housing markets futures in more than 250 local housing markets in all 50 U.S. states. Driven by booming local economies and unprecedented growth, the Hottest 10 Buyers Markets in...
Ten Hottest Buyers Markets To Be Announced By Housing Predictor
By: Mike Colpitts | 15/04/2007 | InternetHousing Predictor, which forecasts housing market futures in all 50 U.S. states, will announce it's 10 Hottest Buyers Real Estate Markets in 2007 for investing in homes, condos and townhouses. Housing Predictor is an independent web site that forecasts housing markets in more than 250 local housing markets throughout the...
Housing Predictor Goes Interactive
By: Mike Colpitts | 06/04/2007 | MarketingHousing Predictor, which provides housing market forecasts in more than 250 communities in all 50 U.S. states is going interactive. The web site is adding a polling center, where visitors can become part of the community anonymously and provide their opinions on some of the nation's most important economic issues....