Credit unions have a history of being very active in the auto loans and home equity lines of credit markets. It has been a very profitable niche for them for quite a while. In the current mortgage market, more credit unions are beginning to market their ability to do first mortgages.

As far as membership rules, many credit unions have relaxed their restrictions, making it easier for family to join, rather than just employees of a particular company or members of a labor union. There are also regional credit unions, allowing anyone living or doing business in that area to join. One credit union in Florida offers membership to:

The following individuals are eligible for membership at CCCU:

The New York Times and CBS News just completed a poll which clearly shows that Americans still believe in home ownership. Nearly nine in ten Americans say that homeownership is an important part of the American dream. They want to keep home ownership in that place for themselves and everyone else. High points of the survey are:

- 45% say that the government should be doing more to improve the housing market, while 16% say it should be doing less.

- 53% believe that the government should offer some direct financial assistance to troubled homeowners.

- Almost no one favors discontinuing the mortgage tax deduction.

- 36% approve of what President Obama has done for housing, while 45% disapprove.

For many years, real estate agents had a pretty easy time when it came to valuing a house to set a listing price. They did a CMA, Comparative Market Analysis, and the gradual appreciation of homes was predictable. Then the boom years came along, and it became more difficult. With bidding wars and flipping that brought profits from months or even weeks of ownership, agents were scrambling to set the right price for their clients.

Few market watchers would argue that foreclosure actions haven’t been speedy, nor have lenders even managed to keep up in many cases with new homes going into default. Fannie Mae issued an alert to mortgage servicers at the beginning of the year stating that fees would be levied going forward for severely aged loans. However, the situation has been escalated.