The past couple of years have seen the popularity of subprime loans explode. This phemonena has made it easy for people to get into the housing market and buy homes that they would otherwise could not afford or loans they otherwise could not get. These loans are typically fixed for 2-3years and then they go up significantly in payment. So buyer beware, if you get such loans, know that your payments won't stay that low. But the bigger trouble might be the restriction on people getting and qualifiying for mortgages. We maybe seeing alot more forclosures or slowing on the mortgage front but this could also mean that people who could otherwise qualify for a mortgage would have to shop around a lot more and pay a lot more in fees to be able to get a mortgage. Sounds like a double edge sword to me. Well, I am not sure if this is good or bad but worth thinking about...
call me for your real estate needs or questions:
Roxanne
619-778-0577
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