If you have thought about purchasing a home or are contemplating a move soon, now may be a good time to get the process rolling.  Although the media is constantly talking about "The Mortgage Meltdown" and "Increasing Foreclosures"  what they have failed to say is who this market actually benefits, so let me help them out. 

  We are currently experiencing mortgage rates at an all time low!  This means that as opposed to one to two year's ago, buyers have the opportunity to save ten's of thousands if not hundred's of thousands of dollars on the life of their loan for the same exact house.  In addition to that, because foreclosures are at a peak, it is causing the values of certain areas to drop, meaning, homes are now on CLEARANCE!  The average home in Chicago - Napervile - Joliet area as reported by the National Association of Realtors in the 3rd Quarter of 2007 was right around $240,000.  Increased foreclosures have essentially given buyers a real opportunity. 

  So, don't be fooled.  It's a great time to buy!  It's a great time to refinance!  Why pay 7.5% interest when rates are starting at 5.25% fixed?  Why pay $300K, when the market is giving you an opportunity to pay less?  At the end of the day you get to choose!  But please choose wisely!  Your future depends on it.  For more information on buying, selling, or refinancing a home feel free to visit www.ceceliaknowsmortgages.com   The Buyer / Sellers Vault.  There is tons of free information to help you make informed choices.  Happy House Hunting!

Cecelia Marlow - Senior Mortgage Consultant - PanAmerican Mortgage