With the financial industry hurting in today’s economy, I’m glad that there are more provisions being put into play by the government when mortgages are concerned. But with provisions come prices that we’ll have to be paying with time and work.

So home loans are now going to be work. It’s troublesome when you’re going through the process of applying, hopefully it won’t be hard like applying for a foreign visa, but I think it’ll do its job of truly only allowing qualified applicants.

More on Mortgages to Become More Scarce and Difficult

This news just came in. By 2010, all mortgage/loan officers in the state of Arizona will be required to be licensed by the state, so that means nearly 10,000 agents will have to take tests, pass them, and notify the Department of Finance where they will be doing business.

Senator Jay Tibshraeny, R-Chandler, who introduced this legislation said, “This will bring more accountability to the lending industry and is the start of repairing that badly damaged industry.” It’s also interesting to find out that this legislation, and very similar ones, have been rejected 3 times in the past not too long ago. Not only do I believe that licensing loan officers will raise the bar of loan practices, but I think that the quality of indiviuals making deals would be raised too.

Licensed loan officers = less loan officers altogether = higher quality of service = happier customer = improving economical health for the state (long term benefit).

The tables have turned, and now homeowners have on their side almost the same amount of technology that insurance companies have. Ever had property damage happen to your home after a real ugly thunderstorm? Some damage from flooding? You no longer need to call a public adjuster to estimate the amount of damage, let MySmartClaims.com help you!

More on Tucson Homeowners: Evaluate Property Damage On Your Own