This past couple of months found a number of lenders closing their doors, and others including the largest lender in the nation, Countrywide, in tight circumstances.  Those that are still with us have made huge changes in the loan programs they are offering.  Gone are the days of low interest stated income, stated asset, 100% financing, or loans that are likely to lead to borrower default. 
This is a good thing

Better quality mortgage products equals a better financial outlook for each of you, our clients, assuring the future affordability of your homes.
I always watch daily  interest rates on conservative products—30 year fixed, for example has been hovering around 6.25-6.5%.  A very good rate.  If you are a W-2 worker, with good credit and reasonable income, assets and even a small down payment, you are the kind of borrower that lenders really want right now, and they show it by offering low rates to you.  If you are about ready to refinance, this would be a great one to consider.
Already, our lenders are releasing modified versions of some of the more versatile loans like the Option Arm, and Jumbo Loans with Stated Income. 
Reverse Mortgage:  a better tool than you might think
As the nation ages and baby boomers reach that magic age of 62, more and more of us will be interested in a product known as a reverse mortgage.   I am certified in reverse mortgage origination. 
In a nutshell, a reverse mortgage is a cash flow/income tool. Unlike ordinary home equity loans, a reverse mortgage does not require repayment as long as the borrower lives in the home. Lenders recover their principal, plus interest, when the home is sold or refinanced by the heirs. The remaining value of the home goes to the homeowner or to his or her survivors. If the sales proceeds are insufficient to pay the amount owed, HUD will pay the lender the amount of the shortfall.
To know more about this product or to consult with Lynette regarding mortgage financing, please call or email us.