I have some important information for you today that will ultimately have a big effect on the recovery of the housing market. This is especially true where first time home buyers are concerned. They have been all but shut out of the market for quite some time now.
Most everyone knows that mortgage loans have been harder to get for quite some time, and that is especially true of low down payment loans. The real estate market crash in 2008 and the mortgage meltdown that followed changed everything. That period of time when the average person could walk into a bank and easily get a low cost, low down payment loan came to a screeching halt a few years ago.
Finally things are slowly beginning to change. Borrowers are once again seeing the return of some low down payment loans that will allow folks to get finally into a home and enjoy all the benefits of home ownership.
I came across an article that was published in the New York Times May 1, 2014 that outlines some of the changes. Take a minute and see for yourself.