The Loan Crisis: Where To Get Help
They’re calling it the “mortgage crunch”. Less money is available for mortgages and softening home prices are largely to blame.
You know it must be serious when the Chronicle makes the subject its lead story and then devotes several more pages to the issue.
So, what are we to do? Well, the same article suggests that “if you don’t have to be in the property market right now, it might be best to wait this crisis out”.
Given that that is not always an option, the paper offers a useful list of sources of advice for people who need a mortgage now, loan crisis or no loan crisis.
Bankrate.com: A free, online source of personal finance information that includes an entire section on mortgages, including local rate comparisons.
FDIC: The Federal Deposit Insurance Corp. provides comprehensive consumer advice on mortgages and home lending. Check its “Looking for the Best Mortgage” page for starters.
The Federal Reserve: The Fed offers a great consumer overview of lending issues, particularly focusing on settlement charges.
The FTC: The Federal Trade Commission also offers an advice site for consumers navigating the mortgage market.
