Rates Are One Percent Away From All-time Record Lows

More negative news in the mortgage and finance world today.  Although this news is bad news for those who are affected by this, it is great news for mortgage interest rates.  Solomon Financial wants consumers to get their free report, Shopping Around For A Mortgage:  http://www.freemoneyhour.com/shopping_around.php

"When we hear about Starbucks closing 600 stores, or KB Toys closing 356 stores as part of its bankruptcy reorganization, or Wickes Furniture or Levitz going out of business, GAP closing 85 stores and Foot Locker closing 140 stores, Pacific Sunwear closing 153 stores, and even the Walt Disney Company subsidiary Children's Place filing for bankruptcy protection this is major news for the economy," reports Fred Solomon.  Additionally, "Lehman Brothers, a 158 year old investment bank, is choked by the credit crisis and has filed for Chapter 11 protection."

When this happens guess what happens to interest rates — up or down?  You guessed it.  Rates will come down!  Rates are 1% away from the all-time record low today.  Take advantage of these all-time record low rates while they last whether you are a first time homeowner wanting to purchase and get pre-approved and referred to a qualified Realtor® in your area or you are a homeowner or seasoned investor wanting  your best refinance options. 

How do you know if you Have a Good FAKE Estimate or a Good Faith Estimate? In a recent survey, 75% of all borrowers do not receive their Good Faith Estimate (or GFE) within 3 days after making a home loan application as required by Federal Lending laws. Without a GFE the borrower has no real way of knowing what their interest rate will be and no way of knowing what the costs of getting the mortgage are, or if in fact there are "junk fees" rolled into their loan. For more information from the original NOpointsNOclosingCosts.com company that reviews good faith estimates for free:  Go to http://www.freemoneyhour.com/freeGFEreview.php  

 For more information contact:

Solomon Financial Advisors

As heard on CBS Radio's The Solomon Free Money Hour

Fred Solomon, Jr., Co-Founder

(800) 811-7709