With all of the mortgage companies going under. You have to stop and ask why. I think it is because they were not prepared for something like this to happen. But there are homes that are still being sold and refinanced. The guidelines for products are different and will continue to change. Financing is still available even up to 100%. The difference now is that you have to prove that you can make the payments (WOW What A Concept). Investors have tried to cut back on losses by taking away some of the risk layers on the products. They figure if the borrower invest more into the purchase, less chance that they will just walk away if things get tough.
Down payment assistance programs are still available. There are many loan products available.
Is it business as usual? No. But this will end and I will still be doing loans.
"Your Mortgage Specialist"
Shaun Wren
Centric Mortgage
863-860-5680 cell
863-327-8870 ext 134 office
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