Comments on: Pre-Approved? Think Again, You May Not Be. A Cautionary Tale

By: Jon Bunn - Ashburn VA Real Estate

Jon Bunn - Ashburn VA Real Estate — Tue, 01 Apr 2008 16:59:26 +0000

Yikes Joe. You are right. It is more than important now for buyer to have an approval from a solid lender and lock in asap. Good article. I am working with one of these situations right now.

By: buy houses

buy houses — Mon, 31 Mar 2008 23:45:13 +0000

With the help of the house financing, many number of sellers are listing their house properties in the house property market and the buyers are purchasing the house property that are listed in the house property market . Purchasing the house property from the market is not the difficult task and some of the buyers consider it has difficult.

By: Jeremiah Arn

Jeremiah Arn — Mon, 31 Mar 2008 20:56:51 +0000

What a great post, Joe.
Sorry you got blindsided. Market volatility = stakeholders getting blindsided. I think you’re advice was dead on. Many bankers and brokers are advising clients that ALL loan programs are subject to review. Fortunately, most lenders will give about a week’s notice to get a loan submitted and locked before a program gets axed.
I think it would be helpful to share the lender’s name - not the brokers, but the actual lender’s.

By: Uncle Jack (Jack LeVine)

Uncle Jack (Jack LeVine) — Sun, 30 Mar 2008 12:43:52 +0000

In Las Vegas, we finally have real buyers looking at the nice homes, instead of investors scooping up amazing give away crappy bank owned properties.

Our problem is now getting appraisals, when the only comps were trashed out REO’s at 40-50% off of the the 2006 highs. It’s a nightmare no matter what the market.

By: Dave Pulsford

Dave Pulsford — Sat, 29 Mar 2008 13:31:50 +0000

That’s a good story, and a growing concern in the UK market.

By: JD

JD — Sat, 29 Mar 2008 03:16:24 +0000

Interesting post, especially since I’m self employed with not so great credit and looking to buy in the next two years. Definitely will start saving up that down payment.

Looking forward to the FHA post.

By: Christian

Christian — Fri, 28 Mar 2008 23:33:38 +0000

Yes, this happens in all markets. A good loan officer will tell you this up front…”the market is funny, underwriters get spooked easily these days, don’t be surprised if they give us some hoops to jump through”, etc, etc. The upside is good prices, selection and fantastic rates. Pros and cons…

By: Bad Debt » Blog Archive » Pre-Approved? Think Again, You May Not Be. A Cautionary Tale

Fri, 28 Mar 2008 19:47:42 +0000

[…] Read the rest of this great post here […]

By: Bill steele

Bill steele — Fri, 28 Mar 2008 19:16:45 +0000

Ever since the markets have crashed ,the mortgage market has been fluctuating a lot.This is not only disturbing columbus real estate market but many other markets.