Delaware Mortgage Loans

The U.S. Housing Market saw more signs of a decline in the latest report of pending home sales for existing homes.  The National Association of Realors index of pending home sales dropped 2.6%.  This index meaures the number of Americans signing contracts to buy previously owned homes.  The index had showed a gain of 3.7% in October which was a sign that market might be stablizing, but this latest report is another sign that 2008 is going to be another tough year for the housing market.

This report supports statements made by the Treasury Secretary Henry Paulson when he forecasted on Tuesday that the housing recession will continue and will be the biggest risk to economic expansion.

What does this mean for Delaware Home Buyers and Sellers?  It means seller mean to be realistic about their asking price and need to be willing to help buyers with closing costs in order to sell their homes.  Buyers need to take advantage of the market and negiotiate for a lower sales price and ask for settlement assitance from the seller.  Despite the rumors about the mortgage industry, Delaware home buyers can still get 100% financing and even obtain a loan with bad credit.

If you need help qualifying for a home loan or help selling your home, please feel free to call me at 302-368-7132 Ext.12.  We even have a Get Mortgage Ready Program for people who don’t qualify for a Delaware Home Loan right now.