If you can place yourself in the enviable position of applying for a mortgage for your own home, count your blessings. Credit is tight right now and current homeowners can typically only refinance their mortgage loan. They certainly don’t have any chance of selling their home at a profit.
Banks Are in Hot Water
A few bad apples can certainly ruin a harvest. For many years, the banking community pushed adjustable rate mortgages on applicants that could ill afford any mortgage at all. These shenanigans set off the housing market meltdown that is responsible for starting the global economic chaos.
Take care and due your homework to accept the best situation possible. A source (more…)Read More »