lending standards: Essential Changes to Promote Real Estate Progress
- 11/25/11 01:09 AM
After the robo-signing incidents, major lenders tightened their home loan lending standards, which make many previously qualified homeowners unable to purchase a new home. With the high number of foreclosure homes for sale on the market and the stagnant real estate market, these high lending standards have obviously delayed progress. Imagine being a young couple with impeccable credit and a stable job, but being turned down for a home loan due to lending standards that are ridiculous at best. This young couple could be putting money into the real estate market (and the local economy). Instead, they are left renting a … (1 comments)
After the robo-signing incidents, major lenders tightened their home loan lending standards, which make many previously qualified homeowners unable to purchase a new home. With the high number of foreclosure homes for sale on the market and the stagnant real estate market, these high lending standards have obviously delayed progress.
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