Washington (PRWEB) December 8, 2007
Some of the nation's top lenders and regulators for the mortgage industry are meeting to firm up plans to help homeowners with sub prime mortgages, according to U.S. Treasury Secretary Henry Paulson. Organizations like Direct Mortgage Pro, which work with lenders to provide the best financing options for home buyers, expect this to benefit homeowners as credit tightens in the United States.
"We are working aggressively and quickly ... to help financially responsible but struggling homeowners," said Treasury Secretary Henry Paulson. "We are determined to bring this diverse group together, to develop a set of standards that will be implemented across the industry, from the largest mortgage servicers to the smaller specialty servicers."
As credit tightens in the United States, and sub prime home loans are becoming uncommon, future homeowners should be less likely to end up in this credit crunch. Many current homeowners are close to default, though, as the adjustable rates on their sub prime mortgage program skyrocket. Some financial experts believe these mortgage rates should be temporarily frozen to make it easier for these homeowners to make their mortgage payments and keep their homes.
Companies like Direct Mortgage Pro, however, are working to provide today's home buyers with the best mortgage rates and lending programs, so they will not find themselves in this position in the future.
For more information about the current mortgage market and financing options, visit http://www.directmortgagepro.com
About Direct Mortgage Pro:
Direct Mortgage Pro believes that getting the best rates and terms on a mortgage should not be a stressful, time-consuming process. They provide what their clients need without wasting any time. By filling out a brief form, borrowers will have a highly trained mortgage coach contact them in a timely manner.
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