New Foreclosure Wave--- Buyers Be Ready!

Experts predict a new wave of foreclosed properties will hit the market in early 2010. Adjustable rate mortgages that have "reset" their interest rates at a higher rate and thus, in some cases,doubled the home owner's payment, are expected to flood the market. They will provide buyers with another pool of "bargains" to pick from says Alan Kendall, economic expert using data provided by Credit Suisse Bank. With mortgage money available at all-time lows and low or no down payment required, it may be time for buyers to purchase the 'Home of their Dreams" for their families. Buyers should prepare by getting a mortgage "pre-approval" letter from their favorite lender and repair any negative credit "blips" that the pre-approval process discloses. Then they will be ready to take advantage of the outstanding buying opportunities that become available.

Roger Simon

Roger Simon

Residential and waterfront specialist,Associate Broker,Appraiser,
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