Reality Check 101: Mortgage Counseling in a Down Market

Now that the subprime mortgage crisis has left all of us in the industry with quite the morning after hangover, fellow blogger Helen A. at Bankaholic sent us this link intended for those finding themselves looking for property in this buyers' market. Helen reminds us that subprime lending was a historic exception in the history of residential lending and offers sound advice for buyers. Namely, she writes that buyers should have their finances in order and not buy more of a house than they can afford. By doing so, buyers can take advantage of the large inventory of price-depressed housing on the market now and benefit from what are still historically low interest rates. The entire article is here...