The mortgage industry is going through a change. Not only in the way business is done, but also in the types of products and the number of people that may be helped by our business.

Sub-prime mortgages or mortgages granted to those with less than perfect credit are nearing extinction. They are still available, but you are going to have to actually save some money to use as a down-payment! That is an idea that the general public has gotten away from. We have become a nation of want and receive. We do not have to change our lifestyle in order to put some exta money aside for savings. If we want something, we go get it. Charge it or take out a loan! We will figure out how to pay for it later.

The changes in the market are going to force lifestyle changes that will be more conservative. The "Mortgage Crisis," as it is being called is getting a large portion of blame. The media is reporting that sub-prime lenders have extended credit to people that cannot feasibly make the payments on those homes causing them to go into foreclosure and thus putting the Nation in a bad position. I think if we are going to place blame on the sub-prime mortgage people, why not look into those others that are providing credit with loose guidelines.

Many of you received credit card applications in the mail while you were in college. If you are like most of the college students, you probably have a part time job and are making a couple thousand dollars a year. This credit card is going to allow you to purchase sometimes up to 2 or 3 times your annual earnings! This is a major issue. Another big possible problem could be car financing. Most people can get a car loan no matter what their current credit situation. You see the ads, Guaranteed financing! So, if I am having trouble making my bills now and I want a new car, go get it!

At least with a home, you have the opportunity to gain some equity position. The state of Iowa has a fairly stable real estate market and dos not greatly fluctuate like other markets in the United States for the values of homes. Let's face it, Iowa is a fairly conservative state. I would rather give someone the opportunity to gain homeownership and the opportunity for financial gain rather than paying for a bunch or dinners and pizza that will probably be charged off by the credit card company and result in an even worse credit rating!