Richard's Real Estate Thoughts - Chattanooga TN Mortgage Lender: May 2008

Let's get more buyers qualified

At a recent luncheon with the Chattanooga Home Builders, Pam Duffy, President of Chattanooga Association of REALTORS, mentioned that the unit sales number in Chattanooga had dropped by roughly the percentage of prior year sales that were closed with subprime loans.

That is a remarkable coincidence.

What is needed is to qualify those buyers with loan programs that exist today. Otherwise we lose a significant chunk of the market forever.

The focus should be to identify them and to provide the services they need to become qualified. This means affordable credit repair, or credit building. It could mean accessing underserved markets.

I plan to work through these ideas about expanding the pool of qualified buyers, legitimately, with as little impact on my time as possible. Any thoughts are appreciated.

American Acceptance Mortgage, Inc

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Richard Smith
NMLS# 184479 TN# 104002 GA# 28928 

Conventional, FHA, FHA 203k, HUD $100 down purchases, VA,

Rural Development ( USDA), and Jumbo Loans


Lending in Chattanooga, Tennessee and Georgia for over 20 years.

Sierra Pacific Mortgage

Cell phone: 423-280-0345 Email: Richard.Smith@SPM1.com

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This blog represents the opinions of Richard Smith. The posts and comments written on the blog do not represent the opinions or positions of Sierra Pacific Mortgage. 

Comment balloon 0 commentsRichard Smith • May 26 2008 12:28PM
Let's get more buyers qualified
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