photo by steed media service

The economic downturn and subprime lending crisis are fueling ever-increasing foreclosure rates, making it tough for real estate newbies to become homeowners. But thanks to lending professionals like Earl King, a senior mortgage consultant for Vertical Mortgage, buyers with good credit and financial wherewithal can still obtain a piece of the American Dream.

Despite the obstacles in the current housing market, King says that there’s good reason to remain positive. “You hear a lot of negative stories in the media about our market, [and] that this is not a good time to be in the industry or to be buying, when actually this is the best time because you can buy properties at wholesale prices, meaning it’s a buyer’s market,” says King, who deals mainly with second- and third-time home buyers.

“You can negotiate with sellers to buy properties at attractive prices because most sellers are trying to sell,” he says. “More importantly, interest rates are lower so you’re going to get attractive financing and you can really build your wealth during these times.”

Coincidentally, King is working hard to form a dream team of sorts, dedicated to educating people on the housing market and getting them to become homeowners. “You know what, I like that term, ‘The Dream Team,’ because all of this kind of started with a dream, with a vision and we all kind of brought our individual areas of expertise together and decided we wanted to do something different.” -gavin philip godfrey

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