A few lenders relax their lending requirements on Federal Housing Administration (FHA) loans

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 23, 2011 --

With new financial reform set to start on April 1st some lenders are offer purchase and refinance mortgages to lower credit borrowers now. One of these is Christopher Austin a Branch Manager with Bayburg Mortgage a division of Bayburg Financial in Templeton California." Our investors are loosening restrictions to buyers who had credit issues but have started to recover" says Christopher Austin. While some people say offering loans to borrowers with lower than average credit scores is asking for more trouble. "Loan are made based on the income of a borrower, mortgages are loans against future earnings and the ability to repay with a home as collateral, while credit is a key indicator it is not the whole picture of a borrower and with the economic downturn more people have credit issues due to no fault of their own, we are looking to lend to those that had an issue and have moved on but their score has not" states Chris Austin. Bayburg Mortgage is accepting applications at their Templeton California Branch on Tuesday and Fridays and online at www.aim-loan.biz any time. You may contact Bayburg's Templeton Branch at 888-503-8260.

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