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I Am So Confused

With Today's dire headlines, many of us are confused about what is really going on in the real estate and mortgage market. You hear stories of banks going bankrupt, people losing their homes, and real estate values plummeting. It is hard to know what is true and what is hype.

We are here to give you the straight scoop, and to help advise you through these turbulent times. Interest rates are at their lowest levels in over 50 years. Many people have taken advantage of this opportunity and have saved hundereds of dollars a month, while others are unable to take advantage of this because of their homes value. There is a program out there that may be able to help you. It is called the FHA Streamline Refinance, and it is a government insured loan.

You will still have to be able to qualify for the payment, which you should be able to, because you had to meet these requirements the first time. If your income has dropped, you might still qualify, we will just have to run some numbers for you.

Whether you are in the market or not, here are a few things YOU should do right now:

1. If you are not in the market for a loan right now, make sure your credit standing is as solid as possible. Many affected people didn't plan in advance to ensure their credit would qualify them for the best possible financing.
   
   
2. If you are in the market for a home loan, or know someone who is – now is the time to work with a real qualified professional who can keep you informed of the changes in the market. Now is not the time to play risky games trying to scour the entire nation to find someone who promises to save enormous costs, or deliver rates that are too good to be true.