The problems being faced by Wall Street firms, banks and consumers is the falling home values.  With a larger percentage of homes being bought in the last two years being underwater and nothing being done to change that it is clear that we have a little farther to go most likely into the second quarter of 2009.  With the Fed aggressively cutting the Fed funds rate the market is starting to regain some of the liquidity they need to be comfortable with new lending.  As a result of all of the losses and the housing prices still falling most mortgage companies are still being very strict with new loans requiring larger down payments, higher credit scores and more verifiable income.  If you cannot qualify for a mortgage as a result, there are other options.  If you must sell your home there is also another option.  It is called lease purchasing and a transaction can be consummated very quickly as compared to traditional financing, typically 30 days or less.  If you or someone you know might benefit from doing a lease purchase give us a call and we will answer any questions you may have and identify the benefits of being creative in this market.