The Dark Side of the Mortgage Change

This article paints a scary picture. Just today I saw a list of 100% loans available. The FICO score had to be 640 or better. The ultimate fallout is still to be determined. If someone thinks there is money to be made they will find a way. So unless regulators ban banks from getting sub-prime loans, those loans will still exist in a lesser amouont.

Nationwide statistics show housing sales spurt. It seems that this is mainly supported by the Northeast and the warmer weather there. Unfortunately statistics are a month or so behind. The true effect of the changes will be after some have felt them.

I will continue to talk to lenders and title companies to get their take on the situation.
Mike