THE TERRITORY AHEAD............

When it seems like everywhere we look it's a negative story, Reo, Shortsale, Forclosure, Unemployment, We

have to look for the good in the bad! The high number of losses of homes nationwide has made obtaining

financing a more stringent operation. When speaking to my current clients about the market situation, I have

had to educate them about welcoming a low prequalification amount. The dissapearance of high risk-stated

income 100% financing has brought a positive. You have to remember that the last thing our economy needs is

another nationwide crisis, we are not done with our troubles and god only knows when they will end but for now

we are making sure that clients get into the right home with the right financing and security. The majority of

people who were financed 100% loans had the dream of home ownership, and I don't blame them, I blame

predatory lenders who made it happen. You have to think that for a lot of people a home is the single largest

investment they will ever make. The initial investment for many folks is all they had accompanied by the dream.

We have to make sure that this never happens and that clients understand the importance of facts during

the process of a prequalification. Over the last four months I have had clients qualify for fha financing as low

as $210k which in my area doesn't even get you a condo. To the clients who have gotten this qualification I have

had to tell them to wait or add co-signers, I'm sure these same clients heard 2 years ago about being financed

for a $600k property at 100% with their same situation. The look on these clients face is not as bad as I would

expect. They are starting to understand that if they qualify for a lower amount it's for their security. If I was

buying a home I would like to stay in it and raise my children and watch my family grow. I don't know if I would

handle the loss of my home even if I had only lived in it for two years. The territory ahead is a tough strugle with

banks to get clients qualified, a time to look back at the negative to make a positive. To make our economy a

more stable one, and to have our clients achieve the dream of home ownership. Only you can make it happen!