Hitting home: North Texans are worried the credit crunch could hit them

Fort Worth Star-TelegramOctober 1, 2008 

Cindy and Joe Cordoza listed their Marine Creek-area home on the market a year ago, thinking that they wouldn’t have much of a problem finding buyers for a home in a fast-growing part of Fort Worth.

But foreclosures crept into the neighborhood, and the Cordozas have had a hard time finding someone to meet their $110,999 asking price. They’re hoping to just break even so they can move closer to Cindy Cordoza’s work.

Now, with the Wall Street meltdown tightening credit for would-be home buyers even further, the Cordozas are worried that lending might dry up to the point that selling a home could become even harder.

"Right now we have three options: rent and save on gas, sell the house and lose money, or stay where we are," Cindy Cordoza said.

The Cordozas are among many consumers in North Texas who are worried that the financial meltdown could hit them in the pocketbook. Already, some of those seeking home loans, auto loans or small-business loans are starting to feel the pinch of tighter credit.

Read the complete story at star-telegram.com

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