debt ratios: My conscience...
- 06/11/10 07:33 AM
Just need to get this off my chest. Currently been working with several very marginal buyers who, by the skin of their teeth, qualify for a mortgage. Very low FICO scores, high debt to income ratios, very low reserves, but really want the house. Some have other good compensating factors like a non-qualifying spouse with income that will live in the property but will not be on the loan. That helps some, but... geez! If this were my personal money, I'd never lend it to these borrowers. However, this is not my personal money; these are government secured notes and will … (5 comments)
Just need to get this off my chest.
;)
;)
