Can I get a loan???

I have been working with some great clients that have paid their bills on time for over 10 years plus. They are hard working people that cannot obtain a mortgage loan today. If they would have found the home they wanted 2 years ago, no problem; Today is a different story. I speak often to lenders, brokers, bankers and investors....they all tell me the same thing. The banks that made bad loans messed the typical borrower up in today's market. Being in finance for many years, I totally agree with qualifying the loan; the person; the character of the borrower. However, lenders are just look at the bottom line with no compassion. Some of the clients I have served may have been unemployed for 6 to 9 months which put them behind on some bills. They made every effort to pay what they could; however, even after finding employment and catching upon their bills, the banks will not lend to them. I have been listening alot to CNN on the XM radio. (I do alot of driving so I catch up on the news with CNN) there is information that conveys to us that while US track our wealth through the DOW Jones. We are also tracking the median prices for home prices. The DOW was 14,164 in October 2007 and around January 2009 it was around 9,000. Good news is that we are on the climb. I feel that everything is relative and volatile.... so who knows and how can we really predict the outcome.

The moral to this blog is don't wait for the rates to plumb any further. If you want to buy a home, then by George go buy one. If you want to try a new career while you are one of the 8% unemployed....then go do your passion. You don't have to get permission to succeed. You may fail along the way, but at least you tried. Along those failures you will discover success!!!