We’ll start with the good news: with the current economic climate, almost anyone can qualify for a home loan; including those that have filed for bankruptcy, gone through foreclosure, or have a bad credit score. Anyone can own a home, although it may cost you more than the typical borrower.

Many people are very hesitant to hire a mortgage broker for their mortgage needs and the other option is always to do it yourself. There is a lot that a mortgage broker does so the option of doing it yourself is fine as long as you fully understand what you are putting upon yourself.

On Tuesday, the Fed slashed the Federal Funds Rate (the rate banks charge each other to lend money overnight) by .75% to the lowest target range in history of 0% to .25%. The Fed also lowered the Discount Rate (the rate at which banks can borrow directly from a Federal Reserve Bank) by .75% down [...]