| How can we tell who is telling us the truth about the | | | | If the banking industry wanted to truly help the housing |
| current state of the Connecticut mortgage industry | | | | market out they would simply require that everyone |
| and housing market? Every day we hear conflicting | | | | verify their income and eliminate the adjustable rate |
| reports from the news and media that tells us that the | | | | mortgage when purchasing or refinancing a home. |
| sky is falling but at the same time we hear now is the | | | | That would insure that homeowners can truly afford |
| best time to lock in a fixed low interest rate. How is | | | | their payment. The biggest problems surface when a |
| that possible? | | | | homeowner was approved for a Connecticut |
| The truth of the matter is that Connecticut mortgage | | | | mortgage, but was never truly able to afford the |
| lenders are offering lower rates than previously | | | | payment. CT mortgage banks would not have to |
| offered, but the guidelines to qualifying are extremely | | | | eliminate the programs that really helped homeowners |
| strict and unforgiving. There was a time when you | | | | because that would only make the problem worse. |
| could qualify for a Connecticut mortgage with average | | | | At the end of the day the problem will only get worse |
| credit scores and good payment history. It seems that | | | | if lenders will not approve the people that need help |
| those Connecticut mortgage programs are no longer | | | | the most. Homeowners who may have a blemish or |
| available to help the average person lower their | | | | two on their credit should still be able to qualify for a |
| monthly mortgage payment. Now homeowners or | | | | low rate mortgage in order to get monthly savings. |
| buyers must have the perfect situation with tons of | | | | That is the best option to help out the mortgage |
| money in the bank. Who do you know that fits that | | | | industry. |
| scenario? | | | | |