FINANCING BAIL OUT- FOR WHO??? It's the end of 2008 and many in the real estate field are sighing a big relief. It's been a hard year but also a year of opportunities. But many first time buyers are having a hard time getting the financing they need to take advantage of the opportunities. All the talk about the financial institutions getting all our tax dollars to loosen up credit seems to have done nothing for the little guy.
WHERE IS THE MONEY??? Well you and I can't fix that. But we can try to figure our way around it. If you need financing the first place to look is your credit union. Unlike the big name banks who gave money to anyone, the credit unions understood their responsibility to their customers and were careful in how they loaned out money -- meaning many are in a good position to loan money. Join a credit union if you haven't already. It may be the best place to look. They will have some pretty firm guidelines but they do have money to lend. Also try the smaller community banks in your area. They too didn't get on the "give-away" bandwagon like the big banks.
GET READY FOR 2009!!! Hopefully our economy will look up for the new year. There are going to be amazing real estate opportunities out there and getting prepared to take advantage of them should be first on your New Year Resolution List.
Take care and Happy New Year!