Friday, October 10, 2008

It was Said Here Before.......
In the face of words of doom from the media we have said in prior posts that the housing market is ready, and that money for financing is available at reasonable rates. The interest rate on a 30 year fixed mortgage is now below 6%!!!! Points charged by lending banks are now below 1.0.

Florida Governor Charlie Crist has just assured potential borrowers that money is available "despite the National credit crunch." Crist also urged people to buy now "..because they should be able to get great bargains due to the glut of residential property."

Bank Of America has agreed to restructure loans to more than 80,000 sub-prime and other troubled mortgages in Florida to avoid foreclosure.

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