Dollars & Sense Part III: Credit market goes back to basics
Smaller community lenders see little change in procedures

VVN/Jon Pelletier
Mortgage broker Mark Miskel points out that it’s not all bad news in the real estate market. Banks are lending money and houses are selling, it is just that normalcy has returned to lending standards and practices. Gone are the “liar loans” and “no doc” loans that required no income or credit checks. As well, Miskel, along with others in the mortgage business, now offer loan modifications to homeowners needing to lower their payments.

VVN/Jon Pelletier Mortgage broker Mark Miskel points out that it’s not all bad news in the real estate market. Banks are lending money and houses are selling, it is just that normalcy has returned to lending standards and practices. Gone are the “liar loans” and “no doc” loans that required no income or credit checks. As well, Miskel, along with others in the mortgage business, now offer loan modifications to homeowners needing to lower their payments.

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