A hard freeze crippled the credit market in September, leaving borrowers scrambling for mortgages.
But with the huge moves that the federal government has made to encourage banks to make loans, mortgage lending has thawed in recent weeks.
Buyers with mid-level or even damaged credit are now able to get mortgages by going through the sometimes complex Federal Housing Administration loan guarantee program. Even those buying second or investment homes are getting loans.
The region's lenders, Realtors and mortgage brokers attribute the thaw to a return pre-boom lending requirements: proof of income, a stable job and a down payment.
"We had those lending practices for years and years and years, but then anyone who was breathing could get a loan," said Lee Wetherington, who builds luxury homes from a base in Lakewood Ranch. "That is when it all went to hell." read more
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