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MORTGAGE PROGRAMS CHANGES
For many
borrowers,
deciding on the right mortgage program
can be overwhelming. There was a time when
choosing a mortgage was a fairly simple process. A borrower had the choice
of one of two options: a fixed or adjustable rate.
Times have definitely
changed. There are different
mortgage programs out there to
choose from. And, Florida Mortgage Corporation offers as many as possible..
Mortgage Programs
and it's underwriting guidelines are
CHANGING RAPIDLY
in the current
VOLATILE
mortgage industry. Some mortgage programs are discontinued, some are "temporarily"
suspended, some are revised, and others are changed completely. This applies to
both borrower and
property.
The existing
Turmoil in
the mortgage industry has created a lot of confusion on mortgage financing. Numerous lenders have closed their doors. Many lenders have stopped offering
financing for high risk properties and or high risk borrowers. The changes are
sometimes
DAILY, and never ending. The changes will probably continue on a
regular basis.
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Due to
a major Meltdown
in the mortgage industry, and serious
Turmoil
in the financial markets, please contact us for "CURRENT"
information. Loan programs are changing on a "DAILY" basis. Some
loan programs are changed, terminated or revised. |
Declining
Market Values and a very high inventory of homes for sale in Florida at
distressed prices has become a very major concern and problem for lenders.
Underwriting guidelines are increasingly becoming more restrictive for borrowers
and properties.
Please keep in mind that mortgage programs, terms and conditions and eligibility
requirements are subject to change without any prior notice. Other
restrictions and minimum loan amounts apply. We introduce and discontinue
programs, depending upon market conditions.
Underwriting and
eligibility guidelines have become more restrictive, in today's market.
Borrowers should contact Florida Mortgage Corporation for
UP TO DATE
mortgage program guidelines
and their availability. Our mortgage consultant will answer all your questions
and provide you "current" mortgage
information.
MORTGAGE PROGRAMS
DECLINING
MARKET VALUES
MORTGAGE
TURMOIL
PROPERTY
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