Need for professional mortgage planning

Stories like the ones mentioned in this USA Today article only means you need to be working with a mortgage professional who can help you like a financial advisor would – looking 5-10 years ahead. A loan is NOT just a loan you should get from just anyone. It is a financial instrument which can make or break your financial future. Tread carefully and work only with professionals with a solid track record.

Also, the fallout from the subprime lending meltdown has not fully trickled through the system yet. Some of the changes you’ll be seeing includes:

a) higher credit score requirements for 100% financing
b) more documentation requirement for income and assets
c) greater scrutiny of appraisals
d) more restrictions on cash-out re-finance transactions

If you have a story you’d like to share please write to me.

This site is for informational purposes only. It is not sponsored or in any way affiliated with the government. If you are in need of a mortgage loan, consult with a licensed mortgage professional. All fair housing and equal housing opportunity laws apply when applying for a mortgage or buying a home. Copyright 2012.