Barry C Hoffmann

I am quite certain that the bank wants to sell any house they can. Banks do not want to be in the home owner business. Banks want to make money lending money. The good news about dealing with a bank is that it is usually not an emotional transaction. Banks deal in figures. If the figures work to where they will make or loose what they conside to be tolerable they you may be able to strike a deal. There is no sense in worrying about a broch approach. " Put your offer in writting" and see what happens. If you loose the house because your offer was not strong enough then ll I can say is that you must not have wanted it that bad. On the other side of the coinb if you get it for your offered price then good for you and go celebrate. Your Realtor is most likely telling you to be aware that the 6% could spoil the deal for you . - Fri May 9 2008, 12:21

This is a very good question. If I had the definitive answer I would be famous, I am sure of that. I believe though it is a combination of factors. A lot of Buyers are in a wait and see posture. With so much negative press on the Mortgage and Real Estate Sales Industry it is no wonder they are undecided. The fact is that right now there are some real good buying opportunities out there and investors and others are just now starting to pick up on them. If the Buyers wait too long they may miss a great opportunity to purchase a home for a significant savings over last year. - Fri May 9 2008, 12:11

Hello B, The best advice I can give you is to seek professional help. If you contact a Certified Mortgage Planner they should be able to guied you on ways to improve your score and to see if there are some programs that you may qualify for a purchase now. The key though is to talk to Knowledgeable Mortgage Consultant. - Fri May 9 2008, 12:04