I met Dan Green from The Mortgage Reports back in 2007. Dan is a mortgage market expert and from Cincinnati, Ohio. In early 2008, during what we now know was the mortgage meltdown and housing crisis, he put together a 5 minute video illustration of how mortgage guideline changes impact homeowners. Since that time, I have referred back to this video many times when explaining just what happened to home buyers, sellers and fellow Realtors. It shows visually how the changes in lending guidelines led to the fall of the real estate market.
Because everything in life is about cycles, and I am a firm believer in learning from history, I feel that this is a good video to share with you now. Not that I predicting that we are headed towards another mortgage melt down, but rather to make sure that we keep our eyes on the horizon of the real estate and mortgage industry. I hope that you find this interesting and worth 5 minutes out of your day. And thank you Dan Green for allowing me to share this (even if it has been almost 10 years since I first asked permission).
For more information about Dan Green and The Mortgage Reports, http://themortgagereports.com/about-dan-green-the-mortgage-reports/