Current Events

The Obama administration is widening its mortgage refinancing program. Borrowers whose loans are currently worth up to 125% of their home's value are now eligible to refinance their homes under the Obama foreclosure prevention plan announced in February. Previously, the limit was 105%. The government is trying to make funds available to borrowers. The economy is in a sad state. The stock market isn't doing to well right now, Wall Street took a turn for the worst Thursday, with all of the major market gauges off at least 2%, while a worse than expected jobs report provoked fears that the recession could go on much longer than once thought. The Dow Jones industrial average fell 200 points, or 2.4%, with 20 minutes left in the session. The S&P 500 index lost 24 points, or 2.7% and the NASDAQ fell 48 points, or 2.6%. The unemployment rate has risen to 9.5% from 9.4%, forecasts predict an increase to 9.6%. The commercial real estate loan default rate is at its highest level in more than a decade and a half. More and more people will be looking for loans from places other than their local banks. Commercial loans businesses like mine can help you get a loan for the property or properties that you want to purchase to expand your business. If you need a commercial loan then click the red button below to fill out a quick Pre-Qualification form