I'm not sure that the title of this blog shouldn't be, "Another One Bites the Dust."  I just heard about more mortgage lenders "biting the dust," this week.

It appears that a majority of our nation's banks have tightened the lending standards on subprime mortgages, again. Will it affect our beloved buyers?  Maybe.

Back in 1996, I was in the mortgage business and most of the mortgage lending was conventional (5% - 20% down), FHA, and Veteran Administration lending.  They say what comes around goes around, and here we are eleven years later and the mortgage lenders are back to the "old" ways.  Traditional lending has always been the foundation of our real estate financing, and believe it or not, only 14% or less of the mortgage lending in the United States is subprime, according to a recent report by economists.

Well, I'm not looking for the sky to fall and I don't think you should be either.  This is a different real estate market, and the cream will rise to the top.  Hey, look at it this way, there will be more opportunities for those who work hard.