The buzz at the recording counter

When chatting with the attorneys who come here to record documents, two themes have emerged this month.

The first involves the availability of mortgages, particularly for home purchases. If you have stellar credit and you're looking for $300,000 or less, you have a good shot at getting your loan approved. If you're seeking a larger loan (and who isn't, with the still-high prices of real estate?), your odds of locking in a loan are greatly diminished.

The second observation is that current homeowners who are in adjustable rate mortgages are growing increasingly concerned that the next upward adjustment will be devastating to their home finances, placing many into unsustainable positions. Because of much tighter credit (see point one above) and because the value of the home in many cases has slid below the outstanding balance of the mortgage, these folks must try to ride out the increase by tightening the family financial belt in other areas.