by Greg Parrish on Saturday, March 5, 2011 at 6:14am
People are talking about the 30 year fixed mortgage "going away." Pundits like to imply that with the exit of Fannie/Freddie that mortgage term will disappear. First, IF Fannie/Freddie do go away they will be replaced with some other gov. entity. Second, the 30 year fixed fits extremely well with the American consumer AND mortgage lenders.
The Straight Up Answer: No need to worry. The 30 year fixed isn't going anywhere any time soon. This loan product is the number one asked for mortgage loan in America. It's here to stay.
The US government has set up housing grants for first time home buyers both at the Federal and at the state level. For first time home buyers, the New York government grants is one of best offers one can think of in these days of acute monetary crisis throughout the country. Which may be in thousands of dollars, provide real relief to citizens, wishing to buy their first homes. Learn more:
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I love the fact that consumers have a place to come to that will give them the Straight up Answer!
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