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Crisis looms for entire economy, as the Real estate market continues to die

newsday.com — If Washington doesn't address the rapidly building multi-trillion-dollar crisis in residential mortgage defaults, its paralysis will help trigger a national economic recession that could touch every homeowner. BY PETER MORRIS Peter Morris is chairman of the PRM Realty Group, with offices in New York and Chicago.

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  • aamonk, on 10/12/2007, -0/+0I agree that there is a problem; however, not all lenders are in a crisis mode. I work for DTN Mortgage, and we have no shortage of lenders readily available to finance people- even bad credit is OK with us. I feel that the press being given on the lender problems is adding to the panic, and that cooler heads need to prevail. If anybody is interested, you can contact us at dtnmortgage .com for further information- we have numerous articles on our website to help people understand mortgage loans, as well as other topics related to home buying, credit options, etc.

    Sincerely,

    Steve, DTN

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