zestimate: Is it Zillow's fault?
- 02/10/09 04:00 AM
At a recent sales meeting, a mortgage company discussed some of the difficulties they had come across in lending. (Names and companies are being changed.) This is what was said: A gentleman was applying for a mortgage for a home he intended to purchase. The home, accurately priced, was around 265k. This was based on comps in the neighborhood for the past 4 months. This particular neighborhood was adjacent to a "smaller" neighborhood with homes selling in the 150-175k range. Now for the qualifications of the buyer: -Debt ratio: 12% -50k in savings -Approximately 30% in downpayment -Large income -Credit score … (0 comments)
At a recent sales meeting, a mortgage company discussed some of the difficulties they had come across in lending. (Names and companies are being changed.) This is what was said:;)
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