Posted By:
Ted ZanidakisFor starters, let us take your number of......"Owner-occupied housing units 75,086,485 "......
These are primary residences; and, when you include 2nd mortgages (Equity Loans) on many of
these homes, and take into account secondary homes (financed by these homeowners....beach
houses, condos, etc.), a number as large as 150 MILLION active mortgages in this country at any
given time is not unusual.
And, especially in this past 5 years when the housing market was "booming".
Don't misconstrue me,I am not trying to argue with you. But, these are numbers I have garnered
from my Wells Fargo Home Mortgage representative. I trust his expertise more than any "media"
reporting. Fortunately, Wells Fargo has been one of the better mortgage lending firms to deal with
over the years. We've had them for our two homes and two Equity loans and I can tell you that
they conduct their lending practices on a very high level.
Regards,
TED Z