Happy Holidays or Happy Halloween? Like you most people are scared of the market and rightfully so. I for one am half glad that this market is the way it is, it has and will weed out all the crooked lenders, Realtors and title companies from the market place and thank God for that.

The sub-prime market only makes up 15% of the overall market and more than half of the foreclosures happened or that are happening are in that 15 percent. The ramifications of the idiot lending crisis are that over three trillion dollars in bad paper out there is due to adjust and the lending of new money has made home loans an un-appetizing dish for investors on wall street as they used to buy all the loans over 417K that the federal entity Fannie May will not buy. They are also charging 2 points or more to buy for the pleasure of your loan in this market because they can. In Congress right now is a bill to modernize FHA to be more competitive in the market place and it can and will straighten out  the majority of our problems. I hope you will want help and do your part by telling your Representatives in Washington that you support this modernization by going to http://realtoractioncenter.com/ and tell them how you feel! However we also need to keep our eyes on the ball ladies and gentlemen. The market is always changing, are you listening?