From mini skirts to raising skirts, home buyers have learned mortgage affordability should focus on more than getting a good deal. Indeed this message of mortgage affordability offers lasting hope to homeowners.
The prior decade resembled a game of musical chairs for home buyers. Investors greedy to make a buck, strike while the iron is hot or however you like to say it, took advantage of the booming US housing market to lure home buyers into products investors were not willing to support when homeowners eventually needed assistance the most.
Thus the last players left standing lost homes in a way-too-serious-game of musical chairs.
That is why it is up to mortgage and real estate professionals, those of us on the front lines, to make a difference now! What if consumers had cried foul on the 2 year products with prepayment penalties? What a difference we would see today in foreclosure statistics.
Would a "just say no" policy to bad mortgage products in itself charted a different course for the American housing industry? Maybe, maybe not... But the real point is how can we learn from the past to improve our future.
Two words! Mini skirts.
What does mortgage affordability have to do with mini skirts and for that matter, raising skirts? You can find out here at Mini Skirts And Mortgage Affordability - Part Two
A Painless Sign-Up
Realtors: promote yourself here => Kate's Real Estate Directory USA and yes, it's free!
Mortgage professionals: here is your opportunity to promote yourself =>Kate's List of Mortgage Companies and yes, it's free!
Get-Your-Best-Mortgage-Rate.com and Prime-Real-Estate-Articles.com
;)
;)
Great information. thanks for sharing. We all need some great lenders don't we?