Mortgage Lending Standards Remain Strict


Despite the rosy talk of an improving real estate market, lenders are not quite ready to ease up on the tough standards they have put in place since they woke up and realized they were dishing out mortgage loans that many borrowers could not afford just a few short years ago. The current situation leaves many would-be homeowners on the sidelines as the strict guidelines freeze them out of the market. While lenders handed out mortgage loans like candy before the real estate market crash, they are now demanding prettyRead More

Mortgage Rates Low But Loans Harder To Come By

With interest rates lower than they have been in years, many would-be home buyers are finding out that it’s often not easy to get into a new home with one of these new low-interest mortgages. The whole economic meltdown has lenders scrutinizing potential borrowers a lot more closely than in the past. I know from past experience that lenders were ramrodding new mortgages through the pipeline using very loose standards a few years ago. It was all about getting the new mortgages approved because greedy loan originators and big banksRead More