We have all heard about the foreclosure crisis that is gripping most of the United States. People are losing their homes all over the country, and in the majority of cases, it's because they signed up for loans they could not afford. Many consumers were not aware of what they were getting into when they signed loan papers during the last few years of the housing boom. The mortgage industry has tightened its standards, but finding a good lender is still important.
When you buy a home, you should have a thorough understanding of the loan and a real estate agent can help you find a lender who will treat you fairly and explain the lending process fully.
Ask your real estate agent to educate you on the basics of mortgages; the different types, what may work for you. Many agents, because of their experience, have relationships with reputable lenders who will find you the best loan for your circumstances. Ask your agent for a referral.
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