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.
You will find a mortgage professional here. Whether you want conventional, FHA, VA, Rural Development, Reverse Mortgages, Construction Permanent, credit guidance, mortgage or home or other information in Tennessee, Georgia, or Alabama, call me, Richard Smith:
toll free 888-474-9920 cell phone 423-899-6898 email: Richard@RichardSmithHomeLoans.com.
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Richard Smith Conventional, FHA, FHA 203k, HUD $100 down purchases, VA, Jumbo VA, Rural Development, Jumbo, FannieMae Homepath, Home Equity Line of Credit (HELOC). |
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Stearns Lending, Inc |
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Cell phone: 423-280-0345 Email: Richard@HomeLoansChattanooga.com |
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Visit my website: www.RichardSmithHomeLoans.com To inquiry about a home loan Begin Here |
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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 Stearns Lending, Inc. |
