Emergency Economic Stabilization Act….that is a scary title. This name was obviously not chosen by a corporate consultant. There is no positive spin on that. I have zero expertise when it comes to economics and government but I read an excellent article about the program that put it in plain language and helped me to grasp the concept. The plan will make more money available for lending but the money will only go to truely qualified buyers. The financial crisis we are in now was caused by unqualified buyers being approved for mortgages. If you are a buyer who has a stable income, good credit and a down payment, you are in a position of strength that has not been seen in the market in quite some time. Read the article at: http://narblog1.realtors.org/mvtype/speakingofrealestate/
Tagged: emergency economic stabilization act, home buying, home mortgage, Lending, purchase a home
