I spoke with my sister who is in the real estate business a few days ago and she told me that while more homes are selling today than in months past, most major leaders are still worried about the future and they are also very reluctant to approve homes loans for some people even when their credit score is perfect. It comes as no surprise to me that major banks and mortgage leaders are reluctant to step up and offer loans today that might have a duration of 30 years or more because almost everyone in the United States is concerned that the recession of 2009 might not be coming to an end anytime soon. While President Obama is talking a good game when it comes to a U.S. economy recovery, most Americans are listening more to what their friends and neighbors are saying around them than to the President of the United States. The simple fact is that U.S. unemployment is continuing to grow and when that happens both consumers and major mortgage banks are hesitant to make huge financial decisions.

Home Mortgage Recession