Everyday people come up to me or my wife and say wow, it must be tough for anyone in real estate related industries these days since the banks are not lending money. I was puzzled why this theme seemed to be recurring time and time again

Then I took a few minutes and really started listening and watching the news. I found that often we would see in big letters on the news THE ECONOMY IN CRISIS. Then during many segments of the news we would hear how companies like CITI Corp or the small restaurants in Boston were having difficulty borrowing money. It is true that many commercial firms are having issues with accessing lines of credit for business.   The fact is that this has nothing to do with the availability of mortgages to individuals trying to buy owner occupied homes for their families or for families that are trying to refinance their loans to improve their overall financial picture.    Yes, the days of getting mortgages by people who did not have any income or assets are gone. The reality is that those people should never have been able to get loans. Also the days of people getting 100% financing in adjustable rate mortgages that were not in their best interest are gone. Many people know these loans as subprime mortgages.   Now let's bring us up to date to today's Real Estate Market. This is a great opportunity for home ownership for first time buyers. The prices of homes in Holliston and the surrounding area have come down greatly. There are options for families to buy a single family home in Holliston, Ashland, and Medway for less than $295,000. Turn the page four years ago and you could not find a home in any of these towns for less than $350,000. Now those same buyers have many more choices. The end result is that the buyer has a greater chance of finding a great home that will fit their family's needs.   So where is all the money? The fact is that many first time buyers do not have a great deal of funding for down payments. Those people are best served by government loans that allow, in some cases, for 100% financing with 30-year fixed interest rates. These loans are much safer then the subprime loans that were used in the past by many people purchasing a home.   The fact is that the government loans as well as conventional mortgages are available for people. There is NO SHORTGAGE of available mortgage funds. It is more important than ever to be working with a professional when considering the options of buying a home or refinancing a home. However not all mortgage firms or banks are the same. Many are not licensed to provide government loans.   In our world today so many are worried about the possibility of being laid off from their jobs and being out of work for many months before finding new employment. These people should have an overall mortgage review done before they become unemployed, since at that point in time, they will no longer be able to get a loan.   In today's world of negative information from the media outlets I thought it was time to show the positive. There is money for people that need it as it relates to real estate.  Let's spread the word and aid people in having the American dream and keeping that dream if they are concerned about job loss.    This article was written by Edward Moloney, a Holliston Resident and an expert in the mortgage industry specializing in FHA, VA and USDA loans for Holliston and the surrounding area. To find out more about Edward Moloney see the link to his site and feel free to contact him with any questions at edward@zenithadvisors.com Link:  http://www.zenithadvisors.com/StaffProfiles.aspx?ID=517151