appraisal: Why was my loan declined? - 10/13/11 08:22 PM
Why was my loan declined? No prospective home buyer wants to hear the words "We regret to inform you..." Unfortunately, according to federal data more than two million people in the US heard those ill fated words! Why? For a variety of reasons ranging from just not meeting certain lender requirements or because they didn't fill out the applications properly or completely. That number doesn't even include all the people who abandoned the process all together! The Mortgage Bankers Association estimate that about half the people who try to refinance and 30 percent of buyers are either declined financing or they … (8 comments)