Happy? New Year!

Happy New Year Everyone!

I hope the holidays were good to you. I don't care what anyone says: It is the most wonderful time of the year! Whatever holiday or religious time you celebrate, it is a great chance to be with family and friends. Whether or not you exchange gifts, the only gift that matters is how you can make someone happy. It can be as simple as a phone call or an email.

I know we are all ready to say goodbye to 2008. Goodbye and good riddance. What an economic tailspin! Can it get much worse? I suppose but hopefully we have seen the bottom and 2009 will bring us hope. Maybe we won't be all the way back but maybe we will be to see the light at the end of the tunnel.

I believe 2009 will be an exciting time for the real estate business. We know our economy is going to change. We will have a new president who will have a new agenda. I'm sure president-elect Obama will make the economy the number concern in his new administration and it seems that he has surrounded himself with experts in the financial field who know what they are doing.

Also, mortgage rates are lower than they have ever been. If you are going to buy a house or refinance, this is the time. There was talk of the Treasury Department lowering the 30 year rate to 4.5%. That would be crazy.

Lenders are working more with borrowers on the brink of default. Instead of making these troubled homeowners go through foreclosure, the lenders are modifying the mortgages so that these people can keep their houses. It's way too late for the ones already who lost their homes, but maybe now with less foreclosures, more homes will keep their values. That would cause more people to be able to sell their house because the difference between what they owe and what the house value is won't be so great.

So we are in 2009. I have made some resolutions (which I will keep to myself!) that will help me obtain some personal goals. I hope you keep your resolutions and they will help you to be a better and richer person. And when I say "richer", I don't necessarily mean monetary.

I wish you the best in 2009. No matter what you do make it a good one. I hope you have many joyous memories and occasions.

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If you have any comments on this article, I would love to hear what you have to say! Feel free to comment below.

Thanks for reading!

Dan Tenchall
Great Lakes Mortgage Funding

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dan@glmf.com