Mortgage news

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Sunday, August 12, 2007

Who can't get a mortgage now

August 10 2007
Buyers with good credit and a down payment will make out well - all others, prepare to pay. The stock market is going crazy. Hedge funds are going under. But for the average American looking for a home loan, the crisis in the subprime mortgage market may actually be good news."Not only is it nothing to worry about, it's an absolute positive," said Loni Graiver, president of the Maine-based Cumberland County Mortgage. "Not only have [home] valuations come down, but interest rates are still historically low."

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