A lot has been said about the Subprime market implosion... What about the other programs?

http://lenderimplode.com/is tracking the 'who's still standing' amongst sub-prime lenders

The Alt-A market is feeling some of the same pressures.... Loan guidelines are changing daily..... so much so that it is hard to keep up with what can and cannot be done.

The good news is.... the 'Full-Doc' loans are ok... the people who can verify income and a little money in the bank have much less foreclosure rates.

But, the 'Stated-Income', 'Stated-Assets', 'No-Doc', ect loans are the ones that can no longer get 100% financing. It is even harder if the loan is for a non-owner occupied property. So, if you cannot verify income and assets, you should be able to get a hold of enough cash for 5% -10% down payment.

The market is changing.... people may have to downsize on their dream homes and put a little money down. But the market will come back some once the foreclosure rate comes back.

Tom Burris
Sr. Loan Officer
www.DallasLoanGuy.com