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How to assure your loan dies an ignominius death.
Here's a handy list of 10 things you can do to kill your chances of getting a loan today.
1. THE PROPERTY NEEDS TOO MUCH WORK!
This applies to REO's, foreclosures, and short sales... sure they're good deals, but getting financing can be rough.  Any broken windows, bad (or missing) appliances, leaking roof, water damage, obvious mold, health or safety issues, structural problems and of course any liens.
2. LOW APPRAISAL.
Appraisal used to be a rubber stamp... those days are long gone and best forgotten (not a problem for me... I have trouble remembering Thursday).  Today, appraisers are trying hard to prove up your purchase price... and standards have become even tougher (which is a good thing, right?!).  If the appraiser can't, in good faith, shore up your purchase price... they're just not gonna. They're not going to 'stretch'.  Re-negotiations (post appraisal) are becoming much more common.
3. BORROWER HAS TOO MUCH DEBT.
Back in the day, large debt/income ratios were treated with a "blind eye"... no more.  35-40% debt ratios are the top end... the guidelines have become very tight... and if your buyer does qualify... make sure they don't make any large purchases just prior to closing, as many lenders are pulling credit just ... more

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