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November 11, 2009

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Jonathan Traut

Really many thanks for posting this blog. One of the biggest risks of buying a home during a recession is that you could lose your job after closing the deal. With that in mind, anyone who is considering purchasing a home this year should do so only if they have solid job security. In addition, banks have been raising their lending standards in the face of increased delinquencies. That means in order to get the best mortgage rates, most would-be home buyers will need solid credit, a decent down payment, and documented income verification, says Keith Gumbinger, vice president of HSH Associates. "Mortgage money is available," he says. "In order to have access to the financing, however, you are going to have to align yourself more closely with the new, more prudent lending standards." For more details do visit us at conveyancing solicitors.

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