sub prime: Rates and Risk - Lenders avoiding risk like pandemic plagues
- 12/04/08 07:11 AM
One would think after reading the newspapers and watching the news media, that very few can get mortgage loans these days, like only the Warren Buffett types. Not true. But admittedly it is tougher to qualify compared to a year ago.
Lenders have increased their requirements as a result of the housing market slump and sub-prime mortgage bust. Loans without down payments are no longer available. Only Veterans Administration and Rural Housing offer such. Also, many down payment programs (e.g. Ameridream) have ceased to operate due to regulatory rulings and tightened policies.
;)
;)
