Mortgage Industry During Financial Crisis
The current global financial crisis, credit meltdown, housing crisis — the worst economic situation that our country is facing since the great depression. Most people do not understand exactly what happened and what’s going on. Everyone seems to be blaming someone – Wall Street, the government, banks…. Should we point a finger at ourselves also? Absolutely! And this is your responsibility to choose the right broker and understand the mortgage program you agree to take. People spend more time picking the color of new washing machine than on one of the most important financial decisions such as a real-estate investment.
Most people have no idea or a vague idea of how the mortgage industry works. Knowledge is a key to figure a way out of the mess.
The mortgage industry is very challenging and the market is constantly changing. Old rules don’t work anymore. Many mortgage programs were eliminated. Guidelines are changing almost everyday and became more strict and demanding. Does it mean we can not obtain a mortgage? No. Banks are still lending. Despite common disbelieve the following programs still exist: 95% Loan-to-Value ratio, Interest Only refinance, 1 day off MLS refinance, no hit for cash-out refinance, no hit for Jumbo Loans up to 750K, no mortgage insurance on loans over 80% Loan-to-Value, 1st position HELOC up to 350K. Whether you are refinancing or ready to get into a new house, you must be aware of new rules and current mortgage options.
Our goal is to make sense of the uncertainty in today’s mortgage industry. We will provide you with mortgage news, current rates, new rules and guidelines. We will explain the requirements and how to prepare for refinance or purchase of a property, how to improve your credit history, how to get better rates and what is the fair amount of closing cost. Our approach is to educate you about your largest financial transaction. We will share with you our knowledge, and we hope you will benefit from our blog.
YOUR SUCCESS IS OUR PROFESSIONAL PRIDE
Don’t hesitate to make your comments. Good-luck to you.
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About us
Hello World!
We are mortgage professionals with licenses in MA and NY. Our experience and our approach to business help us to obtain for our clients the best deal available on the market. We do not cut corners explaining to customers each step of mortgage process making clear the technical and legal terminology, math, advantages and disadvantages of each program. Working with the leading banks, give us access to the best mortgage programs and rates which are currently on the market. Contact us
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