25% of All Consumers are at 599 Credit score or Lower

As the DOW headed back from the minor correction we saw rates worsen. The DOW leveled off over the last few days and rates improved. The pure truth is rates have never ever been this low.
For first time home buyers, we are still doing USDA loans; 100%, primary residence only, no MI and no mobile homes. Maximum income locally, in Brunswick County, NC, where all areas qualify is $73,600 for a family of 2. Please e mail me for information and availability in other locations.
Take advantage of the low rate even if you are a little upside down mortgage VS value. For example, you owe $210,000 with the home's value only now at $200,000, we may be able to get today's lower rates with no MI. We have done a ton of loans through the government Making Homes Affordable Program.
One bit of disturbing news reported this week is that 25% of all consumers in the US now have credit scores 599 or less. That is about 43+Million consumers that will not be able to purchase a home, car or almost anything else, on credit. We all know that a large portion of the 25%, are people that always paid their bills but have been caught up in this economic downturn. My bet is that creditors (banks) will figure out a way to lend these 43 Million consumers money. That’s way too big a piece of the population to be completely outside of “credit” access. Banks are greedy…they make money lending money. You heard it here first… in 6 months to a year we will see changes.