But we do know where rates are today, and where they are at this moment suggests that homes and financing are markedly more-affordable than even a year ago. While it is possible that rates may fall further, it is equally true that they could rise. By any standard, those with an interest in buying or refinancing are in a borrower's market, and that's great news for consumers. The betting here is that biggest problem lenders will face in the next few weeks is a shortage of waiting-room chairs. I suspect if a poll were taken that lenders would be somewhat tolerant of bankruptcies and utterly offended by foreclosures.
Foreclosures are different.
Such an event raises management, shareholder, and regulatory concerns that most lenders want dearly to avoid, and so you can imagine the bells that go off when a would-be borrower has had a foreclosure. You can find out at the FHA Local Loan Limit home page. Peter G. Miller, the publisher of Realty Times, is the author of six real estate books, the original creator and host of America Online's Real Estate Center, and a regular columnist with The Real Estate Professional. Written by Peter Miller 1998 Peter G. Miller. All Rights Reserved.