The Game Has Changed

The game has changed but mortgage rates are still low and opportunities remain for those people who are prepared to take advantage of the depressed housing market and some of the lowest fixed rates in over a decade!

Are you prepared?

The Federal Reserve has been lowering the Federal Funds rate since last year, but their next scheduled meeting on April 29 - 30, 2008 is not expected to provide the same result.  The fear of inflation seems to have put the Federal Reserve in a difficult position.  They would like to spur business and commerce by lowering the Federal Funds rate again, but reports indicate that inflation has taken a strong foot hold on the US economy and by lowering rates again, they could accelerate inflation. 

According to a poll I read recently, 1 out of 3 homeowners have no idea what kind of loan they have. Under better market conditions, that might be ok. But in the current market where over 2 trillion dollars of adjustable rate mortgages are set to increase and over 2 million homeowners loosing their home due to sudden, unexpected and devastating increase in their mortgage payments, it's imperative you know exactly what kind of loan you have. Even more importantly, when and if your loan will recast and go up.

The Game Has Changed!

• Guidelines and mortgage programs have expanded and increased... Now they are tightening and retracting.
• 100% loan to value programs are going away (or at least very limited).
• Debt-to-income ratios are getting tighter.
• Banks are not as flexible as they have been over the past five years.
• Foreclosures are going up and financially stressed homeowners need advice now, more then ever.

I am hopeful that homeowners are proactive so they can navigate a soft landing. If not, they could find themselves in situations outside their control that could lead to personal financial disaster like bankruptcy and foreclosure.

Whether you need to get cash out, pay off those high interest credit cards or consolidate your first and second mortgage into one low monthly payment, we have the fixed rate solution for you! I would be happy to talk with you and conduct a complete Equity Review of your home and Mortgage Review of your loan, FREE OF CHARGE!

Jim Hogan
Your Trusted Loan Advisor