I have 3 sets of buyers.
ALL are employed.
All have 30% downpayment with additional cash reserves to cover mortgage costs for over a year.
ALL have Fico scores over 740.
ALL have had a shortsale less than 4 years ago.
Now, a year ago they were told they needed to wait 3 years before they can purchase again. Now, it's been moved up tp 4 years.
Why are they being punished?
Why can't people get a loan, if they can qualify for one?
What is the point of making them wait?
I would think it would be better for the entire nation, for the real estate market, and for the economy as a whole to allow people who are thusly qualifed to purchase a home.
Home buying creates revenue for the entire counrty. More building, more construction, more landscapers, furniture and decorating sales. I just don't get it.
I have many move up sellers too. They have short sold other homes. They would like to sell and buy something larger for their growing family, but know they can't get a new loan.
This is stupid folks!!!!