I'm hesitant to post an article like this but felt like I might miss something in the translation. The info in the article is sobering. The bottom line appears to be that those with ARM's are having a lot of trouble getting permanent financing on their loans that are resetting. Not only that, but now the folks qualified for a loan that WASN'T subprime, no longer qualify for that same loan! What does this mean for you? It just confirms that it's truly a buyers market in Jacksonville. These homeowners will need to get out from under the new payments in a BAD way. Call me today and let's go look at some houses! Mortgage brokers say one-third of clients failed to close in August Loan fundings not always the cause of cancellations, survey finds Tuesday, September 11, 2007 By Matt Carter Inman News A new survey of mortgage brokers reveals that one in three prospective home buyers who had signed purchase and sale agreements in August ended up cancelling. August was a tu
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