Is The Money Available?

As you know, the mortgage industry is a mess at the moment. Very loose lending practices have come back to bite investors and lenders. Foreclosure rates are through the roof and bad loan write-offs are at all time highs. So, what does this mean for the mortgage industry? It means investors are not investing in real estate backed securities. This is better known as the credit crunch to most buyers. Simply put, there isn’t a lot of money out there for new loans. That being said, new loans are still being written. You simply have to run through a more stringent set of rules and requirements.

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