I am getting a little nervous about what is happening with the lending industry. It is getting increasingly difficult for buyers to get loans. The rules and standards change everyday! I have seen so many deals fall through this year! What happened to the validity of Pre-Approval?? I understand the importance of responsibility in the lending industry- that lack of responsibility is what helped to get us into this predicament in the first place, but now it seems that they have taken it to a whole new level. The banks were given all this money to keep them afloat... so what has happened to it? They don't seem to be willing to lend it to the people who are actually qualified! So frustrating. Along with all the extensions I've had to write this year- in comes the "back up" offer. Pending doesn't mean anything in this market! Makes me worried about what is in store for us next year.....
Buyers- if you are able to buy a house this year- DO IT! Stop hesitating, because it may be impossible for you next year.
Comments(2)