Is it going to receive harder to draw from a home loan? beside the administration shutting down mortgage lender Indy Mac?
what going to happen to first time home buyers?
Answers:
might be for some but frequent my self included get letters asking to lend me money if you have good scores and ratio before you probably still do
The loans are going to be full doc, there will be no more stated programs. the Selfemployed, can forget it.
I really don't think so, countywide stir lucky with B of A taking them over, but now B of A have a whole bunch of bad debt on their books that they necessitate to deal with, they may tighten their standards and be more picky in the region of who they lend to. If the Fed bailed out bear stearns, there is no possible course they will let fannie and freddie fail, they are much bigger entities contained by the financial system and no lender has the capacity to back them out right now. In general, it is harder to bring back a loan, and rightfully so. Money was available and everybody got greedy, immediately it's time to pay the piper. Why give individuals false hope by forging docs and bolstering income, I'd much a bit see someone not get approved than have them shift through foreclosure or bankruptcy, to me it's morally wrong Source(s): mortgage broker
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Answers:
might be for some but frequent my self included get letters asking to lend me money if you have good scores and ratio before you probably still do
The loans are going to be full doc, there will be no more stated programs. the Selfemployed, can forget it.
I really don't think so, countywide stir lucky with B of A taking them over, but now B of A have a whole bunch of bad debt on their books that they necessitate to deal with, they may tighten their standards and be more picky in the region of who they lend to. If the Fed bailed out bear stearns, there is no possible course they will let fannie and freddie fail, they are much bigger entities contained by the financial system and no lender has the capacity to back them out right now. In general, it is harder to bring back a loan, and rightfully so. Money was available and everybody got greedy, immediately it's time to pay the piper. Why give individuals false hope by forging docs and bolstering income, I'd much a bit see someone not get approved than have them shift through foreclosure or bankruptcy, to me it's morally wrong Source(s): mortgage broker
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