Salt Lake City, UT / January 30, 2008 / Press Release / --  Just one day after the announcement by the FBI of its pending investigation of 14 corporations concerning possible accounting frauds and other crimes related to the subprime lending crisis, a report from Standard & Poor's estimates such losses to exceed $265 billion. 

While the Fed continues its push to revitalize consumer confidence with continued rate cuts, the news as reported by the S&P further validates that that fraud within today's housing market has and will continue to have catastrophic consequences if the real issues at heart are not addressed. 

S&P yesterday gave ratings on $534 billion of bonds and collateralized debt obligations (CDOs) tied to home loans and while banks and security firms bore the brunt of the $90 billion in write downs, the S&P has forecasted that the next round of write downs will come from smaller financial lending institutions in various markets around the world.

"Unfortunately solutions to address the heart of fraud in today's housing market has yet to occur and until it does, markets will only continue to worsen as consumer confidence fades," said Sheri Fitzpatrick, President & CEO of Perfect Home Living INC, a nationally recognized non-profit that trains and educates on the harms of real estate fraud in today's market.

While it is predictable that the S&P report will have a chilling effect on the economy much more fallout is expected.  "We expect that the U.S. housing market, especially the subprime sector, will continue to decline before it improves, and we expect housing prices will continue to come under stress," S&P said in the report.   

In the state of Utah if you are victim of real estate fraud or need housing assistance please contact the Utah "Don't Borrow Trouble Hotline at 866.217.1718.

About Perfect Home Living 

Perfect Home Living is a nationally recognized leader that assists in implementing programs and providing training and education to financial lenders , government entities, consumers and licensed professionals to red flags within today's  real estate market.   For more information or to request assistance please visit us online at:  http://www.PerfectHomeLiving.com