Good advice for buyer's paying payments on time does help with the credit scores. Happy Holiday's to you.
I'm seeing much more scrutiny, and in some cases, deals falling out after even 60 days of underwriting. Commercial banks are staying away from investors, even on properties that warrant semi-conventional loans. What's worse, is that many investors haven't educated themselves on alternative loan options, which, in this market, is the best way to keep the deals flowing. With the availibility of so many good deals, it hurts to be hung up by banks who can't get their underwriting done quickly.
I think residential investors, moreso than commercial, have to get used to the stricter lending standards, at least for the next few years. In doing so, they should also take stock of their own credit situations and do whatever they can to repair or improve it so that is not an issue for them.
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