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"The Banks aren't Loaning Money"

By
Services for Real Estate Pros with http://4114Info.com

Is this the situation in Omaha? Is it difficult to get mortgages? More importantly, is it perceived as difficult, thereby meaning people aren't even thinking of buying a house? If it's available, isn't it smart for the whole industry to let us know?

I hear commercials about how business is good here in Omaha and money is available but a concerted effort on the part of mortgage brokers might help. It's all about perception. If I had a borderline credit rating I wouldn't bother to look for money, would I?

Posted by

Stephen Wigg

Webmaster - 4114Info.com

Comments(1)

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James Graner
Residential Services: http://appraisalmo.com - Saint Charles, MO

Sorry Stephen,

Many MB's are fighting for their very existence. They have no idea if they will be able to compete after HVCC and yes it really is hard to get a mortgage all over the country, not just in Nebraska.

Credit score, debt to income, Loan to value, and stupid underwriting caution has taken many potential buyers out of the market. Also, your potential buyers are not all sure that they will work next month, they are scared because we are in a recession.

Jan 30, 2009 02:43 PM