| With the recent mortgage lending implosion and | | | | track and here's why. As the first time home |
| fall out, mortgage lending is tighter now than it | | | | buyer purchases a home, in most cases the seller |
| has been in over a decade. Borrowers who were | | | | of that home is moving up to another home and |
| easily qualified to purchase a home a few short | | | | many times the seller of that home is doing the |
| months ago are being turned down by most | | | | same. See how this works. I sat down and |
| lenders. What's worse is the first time home | | | | started drawing circles on a piece of paper to |
| buyer is being turned down like a redheaded step | | | | illustrate to myself of how the first time home |
| child. These potential first time home buyers are | | | | buyer can be a true catalyst to fixing the real |
| tired of paying rent and want to own their own | | | | estate business and our economy. When I looked |
| piece of real estate. They want something to call | | | | down at my notes, I felt like I had just been to |
| their own and they want the privacy that comes | | | | some multi-level marketing meeting and quickly |
| with home ownership. Too many would be first | | | | crumpled my notes and filed them in the round |
| time home buyers, the dream of home ownership | | | | file. It is true. The first time home buyer can |
| remains only a dream. Few have given much | | | | actually help to bring the market back but where |
| thought to the economic impact the first time | | | | can they start? |
| home buyer may have on our economy. | | | | Bill Burress, nationwide mortgage originator has |
| The first time home buyer just might be an | | | | many first time home buyer mortgage loans |
| important piece of the puzzle in getting the | | | | programs that require little or nothing down for |
| mortgage business and the economy back on | | | | the borrower with no application fee. |