Southwest Florida Title Insurance & Real Estate Blog -

Many many thanks to our panelists, staff and audience for a lively discussion on the state of the mortgage lending industry and its effect on REALTORS®.

We will unpack the myriad discussions we had here but I wanted to share my single most impactful takeaway.

In spite of the grey clouds of issues we all face everyday, I saw a great deal of silver lining in what we heard from our panelists. Mortgage lending isn’t in such an abysmal state as I previously thought.

In short, I learned that there really are options for buyers who want financing.  And I don’t know about you; but it sure does seem like a long time since I have said something like that.

I learned that:

  • People who have suffered a foreclosure or short sale may be able to qualify for FHA financing much sooner – 12 months after the default event – than before – 36 months
  • Financing for condominiums is possible after all!
  • Foreign nationals can get financing
  • Real estate investors can refinance their investment properties (up to 10!) to pull cash out of their properties and buy more
  • Purchasers of second homes or vacation homes can pull equity from their primary residences for down payment funds

There were a lot of positives from this event; and they suggest that our market will continue to improve because buyers have financing options.

We, as real estate professionals, have options to present to those buyers.  I’ll look forward to sharing more details of those options here and to continuing to learn what new options are presented.

Until next time…

Chris

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