real estate agent: Why are mortgage pre-approvals broken today?
- 07/08/10 10:47 PM
I was talking with one of Houston's top listing agents who has had several transactions fall out due to the client not being able to get approved for a mortgage. She asked me why so many lenders issue a client a preapproval letter and then turn around and deny the loan. I could tell by the tone in her voice that it was extremely frustrating for her and I imagined that if she had this question many other real estate agents might also. So I decided to make it the topic of my first blog. When I first started in the … (8 comments)
I was talking with one of Houston's top listing agents who has had several transactions fall out due to the client not being able to get approved for a mortgage. She asked me why so many lenders issue a client a preapproval letter and then turn around and deny the loan. I could tell by the tone in her voice that it was extremely frustrating for her and I imagined that if she had this question many other real estate agents might also. So I decided to make it the topic of my first blog.
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