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Top News Story This Week!

*The True Meltdown Culprit*

Foreclosure is usually attributed to mortgage borrowers, not to those who fund the loans. But this time, the blame lies with the mortgage lenders and investors who created an artificial demand for loans, and then came up with inappropriately risky mortgages to feed that appetite.

The debate continues about who's to blame for the mortgage meltdown and foreclosure crisis. But a new study by Local Initiatives Support Corporation (LISC) points to compelling evidence that the culprit was lender underwriting , not loans to low income homeowners.

" Delinquency and foreclosure rates for subprime borrowers were comparable across communities of all income levels," said Michael Rubinger, LISC president and CEO. "This reinforces what years of experience have already told us: Low-income residents are not, by definition, poor credit risks. Unsuitable mortgage products are."

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*States Offer Foreclosure Rescue Loans*

Homeowners who need to refinance a burdensome mortgage may be heartened to hear that more U.S. states may soon offer home loan refinancing programs similar to those already av ailable from the federal government and at least nine states. The existing programs are limited in scope, but do give some homeowners another option to avoid foreclosure.

So far, Connecticut, Delaware, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio and Pennsylvania have set up refinancing programs, according to "Defaulting on the Dream: States Respond to America's Foreclosure Crisis," a study published by the Pew Center on the States, a research organization in Washington, D.C. Collectively, these states have committed at least $450 million to help homeowners refinance loans they couldn't afford or take out short-term emergency loans to tide themselves over during temporary financial difficulties.

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Your Source for Refinance Mortgages, Real Estate and Investments

Our accumulated knowledge of real estate, refinancing, mortgages, FHA loans, Cal-HFA loans, debt consolidation, short sales, and of the market is invaluable to you. We develop long term, professional relationships with our clients and take a great deal of pride in what we have built.

No matter which mortgage objective you're after, and whether you're refinancing or purchasing, you can find a mortgage loan that will meet your needs. In any given week, Broadway Capital Group typically receives more than 20 transactions, involving purchases, sales, and mortgage loans ranging from $100,000 to $500,000,000 for residential, multifamily, co-op, office, retail, industrial, hotel, mixed-use and self-storage properties. We offer all of the major loan types, including fixed rate mortgages, floating rate, mezzanine, bridge and construction. Whatever type of loan you need, Broadway Capital Group can take care of it.

We use state-of-the-art mortgage and real estate technology to improve efficiencies and simplify the lending process, allowing us to make sure the current mortgage and refinancing rates and programs are the best for your purchase or refinance. There is no cost for you to apply or to obtain loan pre-approval.

Looking to obtain a mortgage loan, no cost loan, no closing costs, refinance or refinancing, buying, mortgage, real estate, financing, or 1031 exchange? Then coming to broadway capital group was your smart choice.

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