Ohio Housing Crisis? Not Really..

Does the media have you afraid to purchase a home right now?  Do you feel that no companies are lending money to purchase new homes right now?  If so, Don’t believe everything you hear on the TV.  Yes, it is true that most mortgage brokers are out of business, yes it true that alot of banks have gone belly up.  But did you know that for every negative that has happened to conventional mortgage lending, there has been a positive and I mean a BIG positive for FHA financing?  There are now programs available for just about everyone to purchase a home with little money down, FHA is offering fully assumable loans now (this means that your terms can carry over to the next buyer of your home when you sell it, regardless of the current interest rate).  They are also offering home loans to people with little or NO credit at all!  They even offer people who have had bankruptcies a chance to purchase a home!  Don’t believe the hype of the news, when was the last time that you can remember that good news sold?  It doesn’t usually happen and they are just looking for something or someone to blame.