It seems to me that lenders are doing everything they can to make it as difficult as possible to meet closing conditions once buyers are pre-qualified.
Close to Home
June 19, 2009
We seem to be at the mercy of the lenders these days, or so it seems. They will ask you to do almost anything in order for you to get the mortgage.
Brigita McKelvie is a REALTOR® (Pennsylvania License #RS297130) with Cindy Stys Equestrian & Country Properties, specializing in rural and horse properties and farms in Eastern Pennsylvania. She has an e-Pro® (Certified Internet Expert) certification and a GRI (Graduate, REALTOR® Institute) designation.
Brigita McKelvie, REALTOR
Pennsylvania License #RS297130
Rural and Horse Properties and Farms
Cindy Stys Equestrian & Country Properties, Ltd.
The Premier Equine and Country Real Estate firm serving Eastern Pennsylvania from back yard operations to world class equestrian facilities.
Use a REALTOR with "horse sense" that doesn't horse around when it comes to horse properties.
The cartoon says it all, everyone is jumping through hoops to get a loan even if the have excellent credit and the necessary down-payment.
Leonlinda:
That is the truth! My one buyer had a hard time getting a loan even though he was putting almost 50% down.
Brigita
Brigita, thanks for the giggle....I needed that this morning with all the sorrow going on in the world!
Kristin:
I know how you feel! I had a lot of mourning last week with deaths in my personal life. Always up for a laugh!
Brigita
Don't you know it..that is exactly what is going on here...we were set to go to closing on one of my listings, the lender came up with an 11th hour condition.
That's hysterical!
Thank you for helping me start the day off with a good laugh.
I'll be damned. You found the resume of a loan officer one of my buyers is currently using.
Brigita - Very funny! But it is crazy how hard it is to get qualified with lenders these days...
Thanks for the laugh. I hope you have a great weekend.
Konnie:
I believe we all have gone through it at some point.
Brigita
Craig:
Unfortunately, in many cases it seems to be true. LOL
Brigita
Ed:
The loan officer was exposed. Can't hide from a smart RELTOR! LOL
Brigita
Jackie:
Even those that have money in the bank with putting over 20% down payment have a hard time qualifying. Explain that to me.
Have a great weekend!
Brigita
Very funny Brigita! We won't be out of this 'crisis' until the banks start loosening their grip on the money. Nice horse! Did you hear about the horse that walked into a bar? The bartender said "why the long face?"
How sad and true at the same time! It's amazing what they come up with just to give a loan. They seem to have inherited the spirit of the Marquis de Sade :) or :( Thanks for the laugh tonight and keep them coming! BLRGuy has rubbed off on you.
Cheryl:
I agree. The banks need to start lending money instead of putting it in their pockets.
Thanks for the horse laugh. :-)
Brigita
Cris:
I believe you are right! BLR Guy has rubbed off on me.
Brigita
Brigita, that was cute. Thanks for sharing it with us.
Jen:
Glad you liked it! :-)
Brigita
Brigita - When lenders impose last minute conditions near the end of the loan process, I often think they are looking for funds to fund the loan. But, if you think barking and making like a slinky are a few of the tasks needed to get a loan to close, try getting a loan modification:-(
Myrl:
I never thought of it that way. That sounds like a possibility.
Brigita