Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

15 of 65
BACKNEXT
Joe Sloboda: Tougher to get mortgages
Mortgage broker, 39, Ft. Lauderdale, Fla.

Given the current credit climate I am finding it more difficult every day to help people purchase their homes.
I was very fortunate to have built a business with a very strong referral base and originated over 80% of my loans in the "A Paper" markets, so I really did not ever do much "subprime" - but given these times I find it increasingly difficult to help even the pool of professionals (doctors, attorneys, corporate executives, etc.) to purchase their homes with reasonable terms.

The majority of homes in South Florida would fall in the "jumbo" market and the difference in rates and terms compared to the "conforming" market is so significant that people often feel as if we are not being honest with them when we quote them rates.

It seems that the lending institutions are so afraid to lend the money that they will continue to keep people from purchasing homes - even those that can afford the homes. Even though I continue to make a living, many of my colleagues are themselves facing foreclosure, facing bankruptcy and losing their businesses.

NEXT: Kevin Harrington: Lifeline under threat
Last updated November 15 2009: 6:21 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
Best business class airline lounges around the world Between August 2015 and May 2016, Skytrax surveyed over 19.2 million customers to find the best airline lounges. Here is what they found. More
What Boeing's new 737 Max 9 has under the hood Boeing unveiled its new, longer 737 Max 9 airliner earlier this month, the second member of the updated single-aisle jet family. The first aircraft will deliver to airlines starting in 2018. More
Toy Fair surfaces holograms, robotic animals, dolls for boys The Toy Industry Association's annual fair revealed countless tech-enabled toys -- and some fresh takes on old classics. More

Special Offer