To set the tone for this blog, I will tell you that below is an actual email to a loan officer on my team. They encountered an issue on a purchase money loan that was well "less than perfect" credit. It was a manual underwrite and most of the people in the transaction were upset to say the least. This is in response to the loan officer telling me that the listing agent has informed her in a NOT so nice way that they are pulling the contract "if it doesn't close tomorrow" because their client has to settle on another home this coming Monday (5 days from now), and they need the HUD from this transaction to settle on the other.

This email is not to point blame, as I feel the true culprit is a total breakdown in communication and proper expectations being set from the get go. I am proud to say that we do not have many of these incidences, but any company that tries to tell you this NEVER happens is probably trying to hide something. I feel it is a good learning ecperience for all of us.

Dear LO,

I guess I am confused. If the seller needs this HUD to close on their loan on Monday of their new house, then how are they able to kill the deal today and not expect delays on that closing. Sounds like ,and I could be wrong, the old Realtor I am pissed and will bluff. If you want to know for sure, just call them and tell them you have no positive confirmation that this will close today, but it did get CTC and that you have advised the lender to kill the loan at the request of the listing agent. See what they tell you then.

I never cease to be amazed at the power of lack of communicaton. They honestly think we are still in the height of a boom and they can just send their client to another lender who will close it in 1 day. Even in that part of SC where the market is still moving, the lending market has still been affected the same way. THEY JUST DON'T GET IT. There are a multitude of people busting their humps to get this file to the table

There are two lessons to be learned here:

• Stop messing with the high LTV low credit score manual underwrites. These are the investors that are going to take forever to underwrite a file (they are busy, they have laid off half the staff, they are still advertising that they can get garbage loans closed, their people are SOOOO busy wading through not a chance loans to get to the ones that qualify, .....you get the picture) Unless the loan to value is low and there are some very serious compensating factors, these loans are standing less and less of a chance of getting approved. On a side note, I predicted that manual underwrite would be phased out. With a corporate Giant like Indy Mac going out of business, you will see this happening faster and faster. What I mean is that they revised DU 7.0 so that many tolerable manual underwriting guidelines were built in. MOST lenders have already made the switch that if the credit score is sub 580 that it has to be approve /eligible in DU to get final approval. In a very short period of time you should expect ALL lenders adhering to this policy. (For good reason)

• ALWAYS CONTROL THE TRANSACTION BY SETTING THE RIGHT EXPECTATIONS UP FRONT. We are the money people and nobody gets paid without us to provide funding. Work with your Realtors as a team. Do not candy coat things or omit things going on in the process for fear of looking bad. It will usually come back and do just the opposite. DO NOT take a contract for less than 30 days in this credit market. There is just way too much that can go wrong, and people will generally drag their feet on getting you everything that you ask for. It is human nature. It is also a lack of understanding of our process by the borrower.

Example: how many times have you had someone get you the final condition that you have been waiting on for a week? As soon as they get it to you what is their question (99% of the time)? Can we close tomorrow? (or some form of it, right)

This is because when you ask for the final condition you also HAVE to make it clear of what the next steps are.

Example: Now that we have your bank statement it will have to go to underwriting and be reviewed and signed off on. This is generally taking 36-48 hours. This means that there is no reasonable way that we are going to hit our closing date. I need you to call your Realtor and ask them for a 15 day extension and if they have any questions they can call me. Have your Realtor fax that extension to me as soon as they get it so as to avoid any other possible delays. Thanks.

By following these two tips, you will definitely close many more loans and have FAR FEWER angry and disappointed relationships. There is a certain reality that ALL real estate professionals have to get used to ( as much as it sucks) and that is the fact the underwriting guidelines are stricter and files are being looked at much closer these days. This creates longer turn times and MUST be accounted for in the sales cycle. It is that simple.

I hope that these tips help you in your future originating endeavors and as always give me a call if you need anything else to get this file closed.

Tom

I sit on the board of Directors of Baltimore Arts and Music Project. It is a local non profit organization that works with young adults and children through the arts to keep them off the street and headed in the right direction in life. It is an absolutely wonderful organization with a lot of really great people involved. Below is the Press release for our upcoming event in Dundalk, Maryland. If you are available come on out and help us celebrate an awesome piece of artwork that took 51/2 years to get to this point.

FOR IMMEDIATE RELEASE

Date: June 26, 2008

Re: The Dundalk Gateway Sculpture Dedication Ceremony

5 ½-year journey signals a new day in Dundalk

When: Thursday, July 17^th, 7:45 p.m.

What: Dedication of the Dundalk Gateway Sculpture on the CSX Railroad Bridge

Where: 1900 Dundalk Avenue, Dundalk, MD 21222

Who: Baltimore County Executive Jim Smith, Baltimore City Mayor Sheila Dixon, County Councilman John Olszewski, and other elected officials to be announced

Members, artists, and volunteers of Baltimore Art & Music Project

Baltimore Art & Music Project proudly presents the official dedication of the Dundalk CSX Gateway Sculpture on Thursday, July 17, 2008 at 7:45pm on the 1900 block of Dundalk Avenue. County and City officials will join us to salute the accomplishment and the many community members who made it possible.

The project was commissioned in 2002 when Baltimore Art & Music Project (then Project Millennium, Inc.) was asked by the Dundalk Renaissance Corporation and Baltimore County Office of Community Conservation to create a Dundalk gateway project. Project Millennium founder/executive director Carla Crisp proposed a steel and metal sculpture to honor Dundalk's industrial heritage and to pay tribute to the blue collar craftsmen and women who built this town and made it a vibrant, family-oriented community. A creative team of 14 working-class artists designed, developed and built the sculpture. With funding from Baltimore County and help along the way from CSX, local businesses, boy scouts, community leaders and volunteers, the sculpture was erected on May 17, 2008.

Please join us on July 17^th at 7:45pm to celebrate Dundalk's new gateway.

With the recent and DRAMATIC drop in loan volume for many mortgage companies, there is an increased level of interest in the Reverse Mortgage market.

With an aging population there has been a sharp increase in the popularity of the reverse mortgage product. It has allowed over 100,000 "Baby Boomers" that are struggling financially to gain access to their equity and add additional income to their household.

In 2007 seniors took out more than 132,000 reverse mortgages. This number represented a 50% increase over 2006 and a jump of over ten times more than just 5 years ago.

The reason for the recent growth in popularity of these loans is that it allows you to utilize the equity in you home without having to repay it, as long as you are 62 or older, alive, and remain in the home.

Many seniors are finding (or should I say funding) relief by the extra money allowing for help with living expenses, home improvements, travel and many other things that their otherwise fixed incomes could not provide for.

No matter how beneficial these loans are for the seniors that are taking them, the increased demand for Reverse Mortgages is providing for a negative by- product, sure to adversely impact the market permanently., fraud and predatory lending practices.

The high origination fees of these loans are attracting the aggressive and unscrupulous loan officers intent on getting you to take out a reverse mortgage whether you need one or not and may even try to talk you into investing the equity from your home into overprices investment products such as annuities only further adding to the profits for themselves.

It is hard to speculate on how widely used these deceptive sales practices are, and most companies will openly say that they do not condone such conduct. The reality is that in an AARP survey conducted in 2006 (before this major increase in demand), it was reported that 1 out of every 10 reverse mortgage customers was pitched another financial product along with their loan. The two most common products were deferred annuities and long term care policies.

So what is wrong with that? Although on the surface and most certainly throughout the sales presentation, this might make sense, Investing in an annuity with the proceeds of this mortgage very seldom ever makes sense. An annuity is not likely to out perform the interest and fees being charged on the reverse mortgage, not to mention the penalties and fees should you need to access the money from the annuity. (surrender charges can sometimes cost up to 20%).

The issue has raised enough concern to get the attention of the Senate Special Committee on Aging, who held a hearing on this topic in December. An investor alert regarding these practices was issued in March by the Financial Industry Regulatory Authority.

If you or someone you know or care about is considering a Reverse Mortgage, understand that these are beneficial loan products and that they do serve the fundamental benefit of providing seniors with another planning option towards retirement. There are a few safe guards that you can use in order to ensure that you will not get taken to the cleaners.

Consult your "Trusted Advisor"

If you do not already have a relationship with a good mortgage planner, then ask the people you trust financially in your life if they have somebody that they would recommend. This could be your financial planner, your CPA, tax planner, family attorney, etc. In this case ask them if they know of someone who is knowledgeable and understands the ins and outs of reverse mortgages. Also discuss other options and if you truly need to be considering a reverse mortgage. Ask them if they would be willing to have a conference call with you and the mortgage planner to determine a need. This step alone will scare off the most questionable of loan officers. If your mortgage planner is not willing to discuss the planning of this with people you trust, such as financial planner, CPA and Attorneys, use someone else immediately.

Mandatory Counseling

Anyone considering a reverse mortgage is required by the federal government to meet with an unbiased third party reverse mortgage counselor. This MUST take place BEFORE you are asked to pay for an appraisal or incur ANY financial charge whatsoever. If you are asked for ANY money prior to this you should find another more experience or ethical institution to deal with. Be sure to listen to what your counselor is telling you and take notes. You should also feel free to ask as many questions as you like. If you feel rushed, ask your counselor to slow down and take the time with you to be sure you understand things.

All counselors are not created equal. There is a variance in quality of counseling from counselor to counselor. If you are not happy with the counselor your are talking to and just can't seem to get on the same page with them, end the call and request another counselor to perform the session. HUD (Department of Housing and Urban Development) is working on rolling out a new set of standards and will be making it mandatory within this counseling to specifically address the implications of using your loan proceeds to purchase annuities.

Sign up for my weekly mortgage market report for the most recent updates on the current mortgage markets.

If you have specific questions regarding reverse mortgages or any mortgage products, please email questions to tom@eldermortgageteam.com and I will be happy to respond.

©2008 Tom Elder

I have and always will possess a desire to work all of the time. It fundamentally is how I am made up and fighting it would be futile. Some people like sports and have hobbies or whatever. I enjoy building companies and marketing and well, just about anything that has to do with business. That is my hobby.

About three years ago my life changed dramatically for the better. My son was born and he has been the best thing ever for me. They say children are miracles and that is true of my son in so many different ways.

He is the red headed reason that I don't work weekends anymore and the reason for having a quitting time now (even though I sneak in that couple of extra hours after he goes to bed ). He is the reason for balance in my life.

I usually blog and rant about a little of this and a little of that, but today for a change I am going to exercise balance and simply say thank you to my wonderful son for coming into my life and allowing me the joy of being his father. HE is my motivation in life and will ALWAYS win over work.

Everyone have a great weekend and let YOUR motivation know how special they are from time to time.

copyright 2008 Tom Elder

This blog will be a continuing series of short informational excerpts from my sales training arsenal designed to help you SELL MORE and have MORE HAPPY CLIENTS.

In my training classes and seminars I am often asked about how to handle the many client objections that come up in the sales process. The answer is very simple, ask questions, listen to the answers, and qualify upfront. The sales profession is not about making EVERYONE want to buy your product through some secret voodoo magic. It is about finding a fit between the right client and the right product quickly.

You will see the most experienced salespeople in any industry flow through sales almost seamlessly and most people new to the sales game often wonder, in amazement, about what secret mystical things that the veteran is saying to get all these people to buy his product.

I am going to share the HUGE MAGICAL SECRET of the TOP PRODUCING sales people.

Ready?

There is no magic and there is no secret J

Let's first talk about handling objections. Why is it that veteran sales people get far less objections than a rookie? One of the reasons is QUALIFYING their client. A veteran appreciates EVERY relationship they can nurture, but understands that not every person will be a good fit for their product or service. Qualifying falls under the 80/20 rule: Ask questions for 20% of the time and listen to your client answer for the other 80%. If you listen to your clients and potential buyers they WILL give you the information you need to close the sale or move on. In order to succeed at a career in sales, you MUST get good at qualifying and quickly determining if there is a fit for this person and your product or service.

Here are some examples of qualifying questions.

•· "How long have you been looking for a ________?"

•· "How has the search gone so far?. "

•· "What have you done up to this point to accomplish your goal? "

•· "What EXACTLY are you looking for? "

•· "Have you had any luck finding it? "

•· "Does _______have everything you are looking for? "

I think you get the point. Qualifying questions are those that find out quickly if the product/service you are selling and the potential buyer are a great fit. If they are not, you can part ways and let that person off the hook. How does this benefit you? By getting to the point quickly and parting ways, you take any UNECCESSARY pressure off of the potential buyer. More than likely they will appreciate that and send you referrals of those that might be qualified. Just because they liked the way you treated them. Getting to the point quickly with those that are qualified will allow you to focus your sales activities on them. After all they are the clients that are most interested and are a great fit for your product or service.

The next time we will talk about a sure fire process to overcome objections like a pro.

Happy selling and remember "Coffee is for Closers" (Glengarry, Glen Ross)

©Copyright 2008 Tom Elder, TomElder.com

With the steady decline and continued erosion of residential mortgage lending guidelines, the question lingers- will the commercial mortgage market follow?

The answer would appear to be "yes" to the average American seeing the economy screeching to a standstill. But as Mr. Miagy said in the Karate Kid, "Things are not always as they appear".

Commercial mortgages are not likely to see the crash that the residential markets have seen. There are several reasons for this.

Historically commercial mortgages have been approved with a much higher level of diligence. Low document loans and stated loans are the exception as opposed to the rule. The borrowers have had to have much higher credit scores and combined with other factors have demonstrated a much higher likelihood to repay their loans. This has been proven through the commercial mortgage default rates that were just reported for 2007. These reported figures show the numbers at only a fraction of the current residential rates and posting at record commercial lows.

Another reason for the stability in the commercial mortgage market is the fact that these mortgages are secured with income producing properties and even though the current real estate market may be declining, these properties will still produce sufficient cash flow for the owners. The approval process makes sure that these properties have a sufficient NOI (Net Operating Income) to sustain the property.

Lastly, the loan to values have been, and will remain, much lower than those allowed in residential real estate. This allows for absorption of the declining market with equity already invested. Should the bank have to foreclose on the property, there is the ability to recoup the bulk of the mortgage balance through a sale, thus maintaining investor confidence in making the lower loan to value mortgages associated with commercial lending.

With the economy slowing to a grinding halt we have and will continue to see a decrease in new commercial construction. There is currently an excess of vacant commercial space in most US markets due to failing businesses and downsizing of major corporations. This vacancy rate will continue to grow as the US dollar weakens and inflation mounts. This will most certainly slow the growth of the new commercial construction significantly over the next 24 to 36 months.

This economic downturn will also open the door for new growth to emerge in commercial refinance applications. Many businesses will have to utilize the equity that they have built to weather the storm and make improvements to remain competitive. I am already seeing a consistent increase in the number of business owners that are utilizing the equity in their commercial properties to better position themselves to ride the rough waters. These are folks who have been through this cycle before at least once.

I would love to hear your comments and opinions on this topic. To get the latest on Maryland Commercial Mortgages, subscribe to my weekly blog or for commercial mortgage questions, you can contact me directly through the email me function of this blog.

©Copyright 2008 Tom Elder

At a time when the economy needs a shot in the arm to revive, it would seem that the government and big mortgage lending seem to be at odds. As the "mortgage meltdown" continues to grow, lenders are continuing to tighten guidelines at a record pace.

As fast as the government can find ways to relax FHA and conforming guidelines and lending limits, the big lenders are finding ways to protect their interest and tighten the things they have control over. The net effect: a continued de-stimulation of the housing market.

The Government wants lenders (and their shareholders) to continue to write down the problem. The lenders want the government to step in and bail them out. Neither side is moving nor is the housing market, which finds itself in a stalemate.

Some of the rumored changes that lenders have in the works, which will negate the intended effect of these governmental "Stimulus Plan" changes, include tiered pricing on loans above $417,000 for instance.

The government, as part of the economic Stimulus plan, approved the increasing of the lending limits (TBD on March 14^th) above the former conforming limit of $417,000. Initially it was thought that a large number of people would benefit from the lower conforming interest rates. WRONG again if the lenders have their way. They have been kicking around the idea of having tiered conforming pricing (NOT JUMBO) on loans between $417k and the new conforming limit. This would significantly reduce the benefits of the higher limits.

It would look something like this:

Today's Interest Rates from You Friendly "Not Jumbo" Lender: (this information is for demonstration purposes only and not an indication of available rates) (Fun Legal stuff)

Conforming 30 Year Fixed Rates

Up to 417,000 5.875%

"Not Jumbo Tier 1 up to $450,000: 6.250%

"Not Jumbo Tier 2 up to $500,000: 6.500%

"Not Jumbo Tier 3 up to $550,000: 6.750%

And then there would be "Real" JUMBO loans: 6.875%

Another example of guideline changes to counteract looser lending guideline is FHA loans in general. FHA Loans have NOT been credit score driven in the past. WELL, now YOUR CREDIT SCORES MATTER. If you have below a 580 credit score you will now be penalized by higher interest rates than everyone else. Sounds obvious right? Historically a borrower's credit score did not matter, and as long as they were able to prove the ability to repay the loan they got the FHA rate of the day, the same as everyone else. Not anymore.

Banks have a right (a duty in fact) to protect their investors interest and our government has the onerous task of trying to keep our sinking economy afloat. Until the interests of these two parties are aligned, we will not see notable improvement in the housing sector of our economy.

The entire housing market was having a lot of fun in the frenzy of the last boom and the entire US economy benefited from the" HAPPY DAYS". Now it seems like a battle of who should pay to clean up the mess after the party is over.

You need a reputable and trusted advisor in the mortgage business to help you navigate the rough waters ahead. If you or someone you know has any question you can contact me anytime (telder@tomelder.com) and I would be happy to assist you. You can also visit our Virtual Loan Department Online at http://www.tomelder.com/, where you will find many useful resources.

STAY TUNED FOR NEXT WEEK"S RELEASE OF THE NEW MORTGAGE LENDING LIMITS. FRIDAY THE 14TH, 2008 * SUBSCRIBE TO THIS BLOG NOW SO YOU DON"T MISS IT!

©Copyright 2008 Tom Elder

AS I sit here and receive another URGENT BULLETIN from yet another hurting mortgage lending institution (Chase Bank) about discontinuing the A Minus product line as of today, I realize this is one of a dozen or so that I have received in the last week or two. I allow myself to drift off into the daydream land of the future...................

The Headline reads:

Extra! Extra! Last Mortgage Lenders Go Bust!

The article goes on to say that the the Government has instituted an emergency lending institution going by the name of The New World Order Of Mortgage Lending!

____________________________________________________________________

Below are their guidelines:

NEW WORLD ORDER OF MORTGAGE LENDING GUIDELINES

Max LTV (Purchase or Refinance) = 75%

Minimum Credit Score= 780+

Maximum DTI: 20%/32%

Minimum Seasoning: 5 years

Income Documentation: FULL DOC W-2 ONLY

• Must provide 10 years previous w-2's and written VOE's from ALL employers
• If there is an employment gap of more than 12 hours you must provide a detailed letter of explanation to be approved by our senior board of directors prior to file submission.

Excluded Professions/ Industries:

• Mortgage, real estate, banking, stock broker, insurance agent, appraiser, retail employee, restaurant worker, day laborer, or any other profession determine by our risk assessment department to be way too volatile of an industry. (We reserve the right to refuse any profession/industry based on nothing)

Occupancy Types: Owner Occupied Primary Residence Only

Approved Property Types: SFD homes with 1 acre or more of land.

Appraiser experience: 5 years or more licensed in that state and living within 2 miles of the property.

Appraisal conditions:

• Must provide a minimum of 12 comps within .25 miles of the subject property that have sold in the last 3 months.
• Must submit a minimum of 2 appraisals by appraisers who fit the above appraiser guideline.
• Appraisal subject to review by s senior appraisal committee of not less that 12 licensed appraisers who must all be present and have a secret vote on whether to approve the appraisal or not. This secret vote must then be voted on by a separate and independent panel of 5 appraisers who have 55 years of appraising experience. All 5 members must be physically present (and alive) to give final appraisal approval.

All conditions must be sent in triplicate (all originals please) and in three separate submission packages (due to a high level of misplaced documents). Please reference the loan number on every sheet of paper submitted. Electronic submissions will not longer be accepted, as this method is way too efficient and would not allow us to lose stuff and delay the loan closing.

If the loan package is not submitted in exactly the manner listed above AND on Tuesday before 1pm and after 12:58pm, the entire package (all three of them). This will be sent via international ground and will be getting sent back from India, so please allow 4-6 weeks for return delivery.

We look forward to a lasting relationship with you and appreciate you thinking of us.

________________________________________________________________________________________________________

As I clicked my ruby red loafers 3 times and said "There's no place like home", I woke up only to realized that I have recieved 3 more bulletins of discontinued loan products in that short period of time.

©Copyright 2008 Tom Elder

Is the Economic Stimulus Bill (H.R. 5140) that President Bush signed into existence last week temporarily un-stimulating the jumbo housing market? The shotgun approach to implementing this new legislation has left many hanging in limbo.

The new legislation will raise the conforming mortgage loan limits up from the $417,000 to as much as $729,750 in high cost housing markets. Uncertainty rings out in the country as consumers are overloaded with contradicting news on the subject. One client told us "I spoke with [my current lender] and they can't help because the information has not been disseminated to the front lines". Lack of information and mis-information have led to an even further temporary slowdown in the higher end housing market as people are not sure when they will be able to get the lower conforming rates. Even consumers that are in escrow on new purchases, affected by the new limits, are attempting to get their contracts extended. These people know that refinancing, when the new limits take effect, will be costly and difficult.

These delays and extensions do come with their own inherent risks. Many of those that delay could see interest rates rise which would negate any potential savings and lenders could continue to tighten up on lending guidelines. This would leave many people that would no longer qualify for a loan.

The Stimulus bill has HUD (Department of Housing and Urban Development) on a deadline of March 14^th to come up with a published list of new conforming loan limits. The new limits are expected to be based on the median home price in the county where the property is located, except for properties that lie in multi-county metropolitan areas. In those areas the limits would be set to the highest cost county.

What should you do now? If you are thinking about refinancing a loan that will be affected by these new limits, It may be worth waiting and see where things go. If you are in the process of purchasing a home that is affected by this bill; you will want to check with your team of real estate professionals to look at your options and see what the best course of action will be for you.

The news and speculation will continue to be confusing and in some cases contradicting. As with anything, time will tell. Until March 14^th all that anyone can do is to speculate where the new limits will be. I will continue to post updates here on this topic. Comments are always welcome.

If you are interested in following HR 4150 Stimulus Bill information, regarding mortgage lending limits, as it unfolds, then please subscribe to this blog or email me at telder@tomelder.com requesting to receive updates. HUD Maryland Bush Bailout -see more about me here. Call Toll Free 1-800-431-8348 x701

The Mortgage Meltdown- spells savings for many. We have all seen it on the news and read about it in just about any newspaper you pick up. It is "The Mortgage Meltdown" and unless you have been living under a rock you know it is ever present in today's financial world.

By all news accounts the sky is falling and the end is near in the housing market. This is a sad reality for many Americans who took out risky loan products during the "boom".

For many Americans, though, the meltdown may have a much more positive effect, an effect that will come in the form of savings. President Bush signed the Stimulus Bill today (Wednesday 2/12/08). There are several pieces to this legislation and this article will focus on the mortgage portion that will allow millions of Americans to refinance their current mortgage and save thousands of dollars in interest.

The package temporarily raises the maximum size of mortgages that government-sponsored lending companies Fannie Mae and Freddie Mac can purchase and market as securities, from $417,000 to as high as $729,750 in expensive parts of the country such as New York and California.

The Bill will also make very similar changes to FHA loans. FHA loans are government insured loans to borrowers with lower credit profiles.

This legislation will allow for people who have taken out Jumbo loans or very expensive 80/20 loans over the last five years to be able to refinance into one 30 year fixed loan within the conforming loan limits. The rates on these loans will be anywhere from 1-3% below what the borrowers are currently paying, meaning huge savings every month on the mortgage payment. The FHA portion will allow for those with less than perfect credit to take advantage of these new limits as well. The First time homebuyer will also benefit from the higher limits, especially in the higher cost housing markets.

You won't want to wait around to see if rates drop again and play the gambling game with the market, though, these increased limits are only proposed through the end of 2008. This means a 4 to 6 month window of opportunity that could be gone forever, if it is not voted as a permanent change.

Even though the President has given the final ok, it is likely to be several months before we see the actual increases. The industry analysts will need to study the long term effects of loans and default rates above the current 417,000 conforming limit. The investors will also need to come up with a plan of how to package these loans for sale on the secondary markets.

With the anticipation of this Bill and the record low interest rates, we have already seen an increase in purchase contracts and refinance applications in our area.

People are already starting to line up to get their application in for when these new limits officially take effect. I encourage you to contact us now if you want to take advantage of any of these programs. We are currently getting client's information so we can move their applications through quickly to closing once the limits increase. You can apply online at http://www.tomelder.com/. Or call toll free 1-800-431-8348 x 701 Make sure you specify that you are applying for these programs.

These changes are viewed as overall positive by the experts and the President and Congress want to be seen as doing something about the current "housing crisis" in an ever watchful election year.

Don't miss your window of opportunity to turn the tables on the "Mortgage Meltdown" and come out a winner.

I am available on a limited basis to speak on this and other mortgage related topic. Feel free to contact me.