lenders: Lender "Pre-Approvals" -- Maybe You are Pre-Approved or Maybe Not!
- 09/07/07 01:43 PM
One day the buyer is qualified; the next day he is not! I've had several buyers and offers from buyers that have pre-approvals written 2 weeks ago but now they are just pieces of scratch paper. Lenders are changing their guidelines on a daily basis, so if you are a buyer and you got approved a few weeks ago, you better check again before you go househunting this weekend. And if you just got pre-approved a few days ago BUY SOMETHING fast because you may not be approved next week. That said, the most important aspect of homeownership is not the color … (1 comments)
One day the buyer is qualified; the next day he is not! I've had several buyers and offers from buyers that have pre-approvals written 2 weeks ago but now they are just pieces of scratch paper. Lenders are changing their guidelines on a daily basis, so if you are a buyer and you got approved a few weeks ago, you better check again before you go househunting this weekend. And if you just got pre-approved a few days ago BUY SOMETHING fast because you may not be approved next week.
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