Mortgage problems

I know that there is quite an amount of information going around about mortgages, and most of it is not positive. I feel that although it is not the panacea that it has been in the last few years, it is still a wonderful time to buy a home!

Rates are still at historic lows....now is the time to buy. Inventory has leveled off, thus the large drop or "burst" that the papers were predicting is not occuring.

I would suggest that you make certain that you are still qualified to get a mortgage. Most banks have tightened the underwriting guidelines, meaning that you might not be able to get the mortgage that you once were able to qualify for. 100% loans are almost nonexistent at this point.

Creative financing will become more prevalent as we move forward in the future. Rent with the option to buy, or homeowner financing may become more common.

Take the time to educate yourself on what is happening in the market. It is always better to "measure twice and cut once". Call your mortgage person and get requalified!