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Lucky to get a loan

By
Real Estate Agent with eXp realty, MFA,Hermosa Beach,Redondo Beach,South Bay 01377782

The old days are gone. The reality is in. The best are the regular ones that always pay on time.

The fico is required now. thats what they say, they say it all day now, its about the FHA

Some lenders are good they have kept off the dust from that good old relationship to Fannie and Freddie

Look long and look hard at the humble faces of the lenders. They kind of look scared, they kind of look tired, its from skating on ice so long and so thin.

What can we do? Just get out the glue. Stick them to The Banks that have been tried and true.

Chase looks safe so is BofA but beware of your cousin or internet loan broker

They can't make a promise and they might have to weep

They are losing their jobs, the company and their sleep.

Get to the lender, get in there quick

The loan you have today could tomorrow get sick.

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Comments (3)

Susan Davis
Austin, TX
Excellence Advocate

Amen sister! They cost me my job, my broker closed the doors, so I ended up in Real Esate school... go figure that one out!

Susan

Mar 20, 2008 07:24 PM
Chip Jefferson
Gibbs Realty and Auction Company - Columbia, SC

We haven't seen the last of it yet. I've been in mortgage lending for over 10 years and just got into real estate. My business has slowed because of the lending changes, but I'm keping a positive attitude, it allows me more time for the real estate end which I love. Hang in there!!! 

Mar 20, 2008 10:42 PM
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com
Yes doing loans are much tougher now, but a good loan officer will tell you the truth whether it can get done.  But even a good one can't do anything when Fannie, Freddie, or the lender changes guidelines midstream.  Start looking at FHA loans again.  They may be the way to go.
Mar 20, 2008 10:52 PM