Have Faith in Today's Mortgage Lenders
By Wayne B. Pruner
http://www.yourhomeinportlandoregon.com/
Wayne's Portland Oregon Real Estate Blog
www.activerain.com/waynepruner
Many potential home buyers I talk with are wondering if lenders can be trusted. Lenders have received much bad press and are accused of causing much of our current housing crisis. There have always been reputable, honest, and ethical lenders.
Undoubtedly, there were ill-advised lending practices going on. The upshot of this crisis has put the industry under intense scrutiny and these practices and dishonest players have been exposed. The public is much more aware of the distinction between different types of mortgages and the abuses that took place. Lenders have taken painful measures to clean up their industry. The ones that are left need to regain the confidence of the public and have adopted high ethical and business standards.
Another prevalent idea is that there are no mortgages being originated. What has happened is that lenders are now requiring people to have good credit. This is the way it should be. Mortgages are still being made. Interest rates are low. Standards are high. There has never been a better time to obtain an advantageous mortgage.
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