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hardik Soni
Joined: 16 Jun 2010
Posts: 42
Location: India
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| Posted: Fri Jul 02, 2010 11:17 am Post subject: Mortgage Loan in this ECONOMY... |
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It is a bit harder to get approved for a mortgage loan due to our current economic crisis. A lot of lenders have bad loans on their books right now, and they are not sure how or when they will be able to recover their losses or prevent future losses, for that matter. So if you want to get a mortgage in this economy you will need to be a well qualified borrower.
Lenders are basically doing that they should have done all along. They make full confirmation with borrowers to make sure they are good candidates for a mortgage loan with legal proves also. They are reviewing the financial history of every borrowers who applies for a mortgage loan to see if there is a pattern of responsibility or negligence. This is a good thing, because it keeps both the lender and the borrower out of risks. So, How that would be possible to get mortgage loan for any-one in this ECONOMY? |
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AaronNelson
Joined: 02 Jul 2010
Posts: 5
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| Posted: Fri Jul 02, 2010 7:02 pm Post subject: |
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| It's really not that hard to get a home loan. I think its still too easy. |
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hardik Soni
Joined: 16 Jun 2010
Posts: 42
Location: India
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| Posted: Sat Jul 03, 2010 9:16 am Post subject: MORTGAGE LOAN |
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| If you really think that it is still so easy then suggest the best way to get mortgage loan for people who are linked in this forum to get the mortgage loan as you told it is easy. |
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EricJ
Joined: 09 Jan 2009
Posts: 321
Location: New Jersey
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| Posted: Fri Oct 01, 2010 1:44 am Post subject: |
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| The guidelines have changed a lot. However, most people can still get a mortgage loan. There are also stated income loans available in certain states for self employed borrowers. LOCAL LENDERS |
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David
Joined: 19 May 2004
Posts: 754
Location: Atlanta, GA
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| Posted: Mon Oct 18, 2010 9:06 pm Post subject: |
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| Just need a higher credit score to qualify that previously and a little more down payment. I think it makes much more sense now than a few years ago. |
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savana
Joined: 22 Dec 2010
Posts: 15
Location: United States
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| Posted: Fri Feb 11, 2011 7:38 am Post subject: |
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David wrote: Just need a higher credit score to qualify that previously and a little more down payment. I think it makes much more sense now than a few years ago.
Higher credit score is very beneficial for the person who is making the investments and today, it give the weight age also. |
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