On a more positive note. Interest rates are still favorable, so much so that even people who've owned their home for less than a year are considering a refinance. Definitely worth checking out!
Feel free to let me know what you're thinking! But if you leave a comment anonymously please be sure and check back for a reply.
Tuesday, November 2, 2010
Here we go again!!
On a more positive note. Interest rates are still favorable, so much so that even people who've owned their home for less than a year are considering a refinance. Definitely worth checking out!
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just another way for the Gov't to be in our face. Raising the credit score like that will continue to stagnate the economy. A buyer with a 620 score has worked hard to acheive it and should now not be punished. Maybe things will change with the mid terms are over.
ReplyDeleteBill
I got a house with a lease-option that comes due in 6-11. I hope the gov. doesn't make it to hard for the common folk to own a home or to get a loan
ReplyDeleteResponse to Anonymous- To address your concern, I hate to tell you that tightening federal regulations are in fact hurting the common folk. As a loan officer it makes my job much more difficult as well. Having said that, with a little time and elbow grease on the part of your loan officer, Processor and Underwriter, you can often work together to find the one creative AND legal way arround a financing issue. Never be affraid to ask! Now I've been noticing a new, possibly more destructive trend in the credit reporting industry that I'll be talking about in today's blog so be sure and check back later.
ReplyDeleteA little advice about your lease/option. Without knowing the start date, it's difficult to determine whether the appraisal is going to affect your decision to exercise the lease/option. But the appraisal is definitely a major factor in your decision, and another area where federal regulation has made things more problematic.