October 20, 2008 // Franchising.com // Morris Plains, N.J. – The economy is front and center these days for Americans. And with much of the attention focusing on the struggles of some banks on Wall Street, many assume it's virtually impossible to get a mortgage, even with good credit. That simply isn't the case. The reality is there are many secure, safe and reliable lenders that are willing and able to provide mortgages to qualified buyers.
Weichert Financial Services, an affiliate of Weichert, Realtors, is one such company that is meeting the current demand for home financing. In fact, the company reports that nine out of every 10 people who come to them are approved for a mortgage.
"With the current uncertainty of the market, people have the misperception that there is no money available." said Stephen Adamo, president of Weichert Financial Services. "While the 'credit crunch' has impacted some lenders who invested too heavily in risky loans, companies that maintained responsible lending practices over the years are still in a position to lend mortgage money."
Affordable home prices, coupled with historically-low interest rates and a large surplus of houses, presents a great opportunity to buy. The current housing market is particularly advantageous for first-time home buyers who can benefit from a temporary $7,500 tax credit that Congress put in place and that will expire after June 30, 2009.
Recent trends suggest that Americans are recognizing the great value currently offered in the housing market. The National Association of Realtors announced recently that pending home sales had jumped to the highest level since June 2007.
"Many of the people we meet with see that there are great opportunities right now and don't want to miss out on taking advantage of that. But they don't think they can get the financing. Once they find out they are approved for a mortgage they are ready to buy," added Adamo.
Weichert Financial Services is one of the "Top 35" lenders in the U.S., according to the 2008 industry newsletter "Inside Mortgage Finance," based upon sales to Fannie Mae and Freddie Mac in the first quarter of 2008. In an August 2007 study assessing the credit standards of the nation's lenders, SMR Research Corp. ranked Weichert Financial Services among the least risky and most reliable. The quality of its products ranks in the top five percent, according to Radian, a leading mortgage insurance lender.
Weichert has nearly 18,000 sales associates in more than 500 company-owned and franchised sales offices in key markets throughout the U.S. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. For more information, Weichert's customer service center can be reached at 1-800-USA-SOLD or at Weichert's Web site, www.weichert.com. Each Weichert franchised office is independently owned and operated.