Mortgage & Money Blog

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I think no one knows in near term what US sub-prime mortgage caused worldwide credit crunch will impact on world economy yet. It has to play out itself at least in next two years. It will slow down more in housing market because it caused jumbo rate to average 7.5%, and cut at least 30% of buyers out of market (self-employed with good credit, imperfect credit, not enough down payment etc in this greater Washington DC area). Am I worried about my business? Yes or No. Yes, my income will be affected, I know all my lenders well, I know what I am doing, and the best of all, I have been keeping up ever-changing mortgage and housing market conditions. People will buy and sell houses. People move, to get married, have kids, change jobs, and even die. There are so many ARM loans due to adjust next two years.

Please email me if you have any question, I will answer your question within 24 hours. Or check up my meeting up schedule and come to my office to ask question in person. It is free and there is no obligation.

http://entrepreneur.meetup.com/1277/

JR