Letters to the Editor

Re: 'Schwarzenegger joins push to raise conforming loan limit' (Jan. 23)

Dear Editor:

I am a loan officer and many new clients are coming to me for refinances to lower their rates and payments. Many purchased during a time of high prices; their loans were approved; their mortgage balances are higher than their home values; and now they're unable to pay their mortgages during this recession.

I feel merely raising the limits will provide fuel to keep prices high, and now that banks have tightened lending practices, few will qualify for loans. The pricing correction is necessary so that middle-class Americans can afford homes and banks will approve mortgages.

Harold Moran
American Mortgage Bankers
West Long Branch, N.J.

Re: '$2,000 to fix backyard electrical wiring?' (Jan. 25)

Dear Editor:

I agree that ignorance can cost. Become as informed as you can. Have a set of reference materials like Code Check (cheat notes for building, plumbing, electrical codes, etc). I check it out myself and make a preliminary determination of an "expert's" trustworthiness.

I also have cultivated relationships with folks in the trades -- and some of the best are not professionals. Absolute last resort: attorneys -- they are not always in the know; often disagree with other attorneys' opinions (that's what they're paid to do); and are the most costly option. Cultivate a relationship with one who takes cases based on their merit and is effective at getting results (which is usually not through litigation).

Alex Kish
Equity Group Realtors
Sunapee, N.H.

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