Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Which came first, the Chicken or the Egg? - Is pre-qualifying a borrower like rocket science???
 

 
How hard it is to pre-qualify or pre-approve a borrower now than it was 2 years ago?  Some would say much harder. I would agree and disagree. Here is why....
Let's put aside the appraisal issues, the mortgage insurance issues, credit scores, and several other factors, because those would be some of the main reasons why it is harder to approve someone. I just wanted to dwell on the basics that so many seem to forget or overlook. I bring this up because Lenn Harley wrote a blog last week, Qualifying borrowers is not rocket science, which has received 200 + comments. If you haven't read this, I suggest you do.
 
 
 
When I asked which came first, the chicken or the egg, my basic point that I would like to make is whether a borrower should be qualified to the maximum purchase price or the payment that they feel most comfortable with. There would be many arguments that would defend both sides. But let's think about this for a moment and what Lenn Harley was trying to convey in her post.
Lenn was trying to determine a price range with those potential borrowers and not take ... more

__________________________________________________
Are you on The Rain? Grow Your Network!