Normally I would have announced this RAIN Radio show before it took place, but this one just snuck up so quick, it bit me right in the you know what, so I thought I better get this out there today. Why? It was a good one. We had one of our very own rainers, Janet Guilbault as our special guest today talking about the mortgage crisis. Now wait! Don’t stop there, just because this topic has been beat to death, Janet answers some great questions that you might find useful for some of your clients in your area.
1. Can you name some of the loan programs that have literally gone extinct or become frozen as a result of the mortgage crisis?
2. How has this impacted the average home-buyer who would like to buy a house in this market?
3. How has this impacted the average homeowner refinancing?
4. How much do you think the difficulty of getting financing has impacted the value of real estate?
5. Who are the winners and who are the losers from the crisis?
6. Do you have tips for buyers to increase their chances of approval?
7. Name some pitfalls that people may be unaware of in terms of qualifying?
8. What is the biggest mistake made when applying for a mortgage?
9. What about people who have loans that are adjusting…are they in trouble now?
10. What can REALTORS® do to make certain clients can be approved?
11. Should a seller insist on something more than the standard pre-approval letter before they accept an offer?
12. What sign will there be when things begin to “thaw out”?
13. Do you see any of the loan programs returning?
14. Are things going to get better or worse by the end of the year?
15. Why would someone want to move forward now, as opposed to “waiting to see what happens”?
I didn’t post all her answers, we all know how long this post would be if I did, so I included a link where you can listen to today’s broadcast. This was one of the better shows in my opinion because we covered all these questions and then some. Take a listen if you have time or if you’re just curious to see what Janet had to say, again, some of this information might be useful to you and some of your clients.