Even if you aren’t planning on buying a home for a year or two, meet with a mortgage consultant and have them review your finances. It shouldn’t cost you anything and if your credit is less than ideal, you’ll have time to fix it before you’re ready to buy.
Getting financing for a home purchase is very different than just a year ago. Several sub-prime lenders have gone bankrupt and another one warned today that it may go bankrupt as well (see CNBC’s “Accredited Home Lending Says Its Survival Is In Doubt“).
Not only are mortgages non-existent for those who are “credit challenged”, the rest of the industry is tightening loan requirements as well. Call (847.890.5270) or email me for the names of some good mortgage consultants to meet with.
With proper planning you’ll be able to buy one of the great bargains on the market!
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
