In the last few years we've all noticed that the real estate market for houses has become, shall we say, frothy. It's difficult to know where it's headed. Some experts proclaim doom and gloom with prices plummeting to depths never before experienced. Others say that the market is about to stabilize and return to a normal level of growth in value.

Money has tightened up a bit and mortgages are more difficult to come by then they were a year ago. That doesn't mean they aren't available, just that banks are demanding higher credit scores and down payments before they'll grant the mortgage. This doesn’t help those homeowners who may have gotten in over their heads during the boom time with an escalating mortgage. The common thought was that even if their current budget was a bit stretched everything would work out because housing prices would continue to skyrocket.

Housing prices in some areas have not only not increased, they've actually decreased and that's bad news. There is a bit of light on the horizon. Remortgages are available that can take advantage of any decrease in interest rates. Be careful when you're looking to remortage your home. Stick with a reputable company that is willing to find the remortage that is best for your situation and will explain the terms and conditions of the new mortgage.

Dee