Released: November 16, 2008

Know before you borrow mortgage money

Source: Andrea F. Siegel, Baltimore Sun (Free Registration)

Exotic mortgages, as well as some lenders, are a thing of the past. But the need to borrow to buy a home is very much present.

The lending landscape keeps changing fast, economists, mortgage brokers and lenders say, so homeowners and potential buyers need to stay current.

“I think the choices consumers will have will be much more constrained, as will the number of lenders,” said economist Anirban Basu, chairman and CEO of the Baltimore-based Sage Policy Group.

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