Sub Prime Implosion

Some of you may have heard about the implosion in the sub-prime market.  Many are intimating that 100% financing is no longer available, or only available to those with pristine credit.  At this time approximately 40+ mortgage companies have closed their doors, some without notice, and foreclosures are on the rise. 

It is still possible to obtain 100% financing.  The lenders have certainly tightened up the requirements, and will continue to do so.  If you have reasonable credit and are not reaching beyond your means you should not have any problem obtaining financing for your purchase.  The wisest decision would be to call your loan officer prior to beginning your home search, and to shop within your means. 

If you would like referrals to several excellent lenders, do not hesitate to ask. 

Posted on March 17, 2007 20:29:47 by Laurie.Manny

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