Subprime still underwater – Many of the companies that provided 100 % financing, stated income deals for borrowers with challenged credit are still closing their doors. It will be quite some time before these programs are available again. The best course of action is to improve your credit and increase your reserves, in order to procure the best loan program for your long term financial needs.
As the market continues to stagnate, home values may become a challenge in receiving the loan program you need. Plans to re-finance or purchase should be accelerated in order to avoid future value issues in the market.
Rates are still near all time lows and should be seen as a positive when deciding to move forward with a home purchase or refinance.
Brought To You By: Bob Gonzalez - First Choice Mortgage
Brought to you by Randy Charlton of Century 21 Home Realtors.