Lake County Mortgage - Lake County Refinance - Lake County Home Loans

Some Major Changes in Lending
Are they hurting or helping consumers?

As many of you have heard through mass media, the United States is currently facing a mortgage crisis which has led to "tightening the belt" across the board in regards to credit. During this credit crunch, there are tougher and tougher lending guidelines because investors are shying away from buying mortgage-backed securities. In response to the current market, the government is allowing more people to participate in homeownership even with less than perfect credit. Just this past Friday, the government raised the loan limits on its FHA loans from $275,000 to $410,000. What does this increase mean to you? Persons with high home values and/or higher loans can refinance their home under FHA guidelines instead of the more strict conventional rules. This move gives considerably more flexibility to consumers during this time.

Sincerely,

John Murrens and Tom Murrens
Founders and Managing Partners

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