get approved: The difference between being Pre-qualified and being Pre-APPROVED - 03/05/13 01:15 AM
A recent article in Forbes magazine entitled “Why Getting Pre-Approved For A Mortgage Is A Sham” was lamenting the uselessness of home buyers obtaining a pre-approval letter from a mortgage lender prior to shopping for a home.   Here is a short excerpt from the article that summaizs the author's concerns. “The fact is that mortgage pre-approvals are not what everybody wants them to be. They are not ironclad, they are not processed and reviewed by underwriting people and they are not subject only to an appraisal, even though most of them say that. They are however part of almost every … (0 comments)