The rules have changed in real estate, financing, lending and borrowing. No longer can you walk into a mortgage company or bank to borrow money to purchase a home. And, if you do, you better be prepared to provide additional dollars for the downpayment, have stellar credit and w2's proving your income stablility. An article of interest recently appeared in The New York Times entitled, "What you need to know to get a mortgage."

It clearly outlines how the game has changed, rules are more stringent and it explains in laymens terms how the process should work. This is an article that I will share with my buyers --- not only first time home buyers --- but other's that may have had a very different experience than the current lending situation.

See http://www.nytimes.com/2008/06/01/realestate/01cov.html .

For more information about buying or selling your largest financial asset, contact me at 201.675.1618 or email CupaT@aol.com .

copyright Pamela Stetson 2009