You think you're confused, you're not alone. It is difficult keeping up with the day to day changes in the real estate and mortgage industry, but slowly the guidelines are being defined. We,the professionals, have a more concrete idea of what will and won't fly. Now we can better advise our clients. Everyone asks is it easier to get a loan now? The answer is still NO. However, we have some consistency. The higher loan limits are in place which have enabled more individuals and families the option of at least considering refinancing or purchasing. Rates are still low.
The lending industry has changed and will continue to change throughout 2008. Business will be done differently. The consumer now is painfully aware of the importance of understanding what you are signing your name to. The painful scenario that many families are facing will serve as an education tool for the future. Consumers have a responsibility in the home purchase and mortgage process......
ASK QUESTIONS AND READ ALL OF THE INFORMATION!!!!
In the end, it will be okay, and we'll all be better as a result. What do you think?
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