FOR IMMEDIATE RELEASE

CONTACT: Joel Silberstein

718.377.7900 Ext.383 Joel@joelsilberstein.com

Historically Low Mortgage Rates and Housing Prices Open Door to New Homeowners

Mortgage Planners Help Potential Homeowners take Advantage of the Highest Affordability Levels in Three Years

Brooklyn, NY., May 18, 2008— The National Association of Realtors reported that housing affordability at the end of 2007 was the highest level since March 2005. The upside of the housing slump has been that potential homeowners previously priced out of the market are finding that they can afford the American Dream thanks to a combination of lower resale and new home prices along with record low interest rates after a series of Federal Reserve Board cuts. However, experts warn that in order to take full advantage of the opportunity, it is important to time the purchase correctly and structure the mortgage to take advantage of the changing market conditions. A Certified Mortgage Planner can help.

“This is a wonderful opportunity to lock in a loan that maximizes security and flexibility regardless of the where the market goes in the future,” states Joel Silberstein, a mortgage planner with The Silberstein Group at Trump Financial, a mortgage broker/banker company based in Brooklyn, NY. “It is important to choose the right loan product to maximize equity position and minimize risk.”

The December 2007 Composite Housing Affordability Index topped out at 122 in December, up 11.3 percent from the previous year, according to the Research Division of the National Association of REALTORS. That ratio of Housing Prices to Income started its sharp rise in September of 2007 and has continued in the first month of 2008.

“The decline in interest rates to the low 5 % range after a series of Federal Reserve Board cuts means that even more people can afford to own their home,” said Steven Marshall, Founder of Mortgage Planner Magazine, which tracks market trends. In early February, Freddie Mac, a mortgage-related securities company pegged the average 15-year interest rate at 5.15 percent with an average 0.4 point. A year ago the same loan averaged 6.03 percent.

Silberstein is even more optimistic about the future as the newly-signed federal stimulus package will help restructure loan limitations, making loans for homes in more expensive parts of the country more accessible. “This is good news for people who were otherwise paying a penalty for living in areas where median priced homes required jumbo loans with higher fees,” Silberstein stated.

Regardless of the market, however, there is no universal optimal choice of mortgage product and potential borrowers are advised to contact a knowledgeable and reputable mortgage professional who can evaluate their current financial situation, consider their goals and capabilities, and take these factors into account when advising about potential mortgage options. “I take numerous factors into account when evaluating a borrower’s fit for a specific type of loan,” says Silberstein. “There are far more factors than monthly payment and interest rates. I always consider the borrower’s spending habits, capacity to save, risk tolerance and future goals. A good loan choice is the one that works best for the specific borrower. Suitability is absolutely critical for the deal to make sense.”

# # #