The Good, the Bad and the Exceptionally Favorable

Originally Distributed 1-01-2009

When it comes to buying, selling and owning homes, things are changing rapidly. In addition, one particular item has become even more apparent these last 45 days… Many people still don’t fully accept, appreciate or understand just how problematic our current economic circumstances are. Moreover, they don’t really know what to do about it. This being so, I thought some more information might be of assistance…

First, the BAD news…

• The current recession is DEEP and will continue to get worse—much worse than the average American might presently surmise,
• This recession probably will not be over even by the end of 2010,
• Real estate values will continue to decline in certain parts of the country,
• Foreclosures will continue to increase, and
• Interest rates will be volatile.

And here’s what this means to those who want to buy or refinance a home:

• Fewer lenders now exist, and
• Loan underwriting standards have become far more strict.

Now, the GOOD news:

• The Housing Affordability Index is at an all time high, and
• Interest rates are at or near a historic low..

These two exceptionally favorable circumstances:

• Provide a means for existing homeowners to significantly reduce their monthly and annual expenses, and
• Can help facilitate the continuing accumlation of wealth through home ownership.

In short, these two things couldn’t have come along at a better time, and, with assistance from CSW Home Loan, many people can and should still take advantage of them. Hope this helps.

EchoPoint Mortgage Company/CSW Home Loan
Dallas, TX
info@cswhomeloan.com
www.cswhomeloan.com
A service of EchoPoint Mortgage Company