Can i have a coffee please

Does the words credit crunch sound familiar to you? It seems like money is getting harder and harder to borrow. Where did all this begin? Did it start with the slowdown in the housing market? Or the issuance of loans to people that had no business getting them?

The adjustable rate mortgages or the loans with teaser rates that lured the borrowers sank the hook into them when the rates changed. Was this the beginning of our credit woes or did it start way before any of this? I believe it started way back of this. I believe it started when credit begin to be a way of life for many people. When the name of the game was no longer save up and buy, but buy up and pay later. I think that what we are seeing now is the result on a credit card mentality that says, “I see it. I want it. I want it now!” even if I don’t have the money to buy it. Yes I believe that we have borrowed ourselves into a mess… Now leaving my only solution is to borrow out of the mess, things like IVA and sell and rent back schemes are calling out my name!