Hard to Get a Loan – Thank God

[Mark Holmes]

So an article in the UT today: Banks less willing to roll out welcome mat on home loans. Link:

http://www.signonsandiego.com/uniontrib/20080322/news_1b22crunch.html

All I can say is it’s about f#%&ing time. Maybe without bank willing to loan ridiculous amounts in San Diego, we’ll hasten the return to rational prices.

[tc]

Great news for us that have been working hard to save up a down payment.

[tc]

Great news for us that have been working hard to save up a down payment.

[tc]

Great news for us that have been working hard to save up a down payment.

[tc]

Great news for us that have been working hard to save up a down payment.

[tc]

Great news for us that have been working hard to save up a down payment.

[an]

Anyone in the loan biz can confirm this? If this is true and we’re back to 20% down minimum, this would remove a lot of first time buyer from the market.

[an]

Anyone in the loan biz can confirm this? If this is true and we’re back to 20% down minimum, this would remove a lot of first time buyer from the market.

[an]

Anyone in the loan biz can confirm this? If this is true and we’re back to 20% down minimum, this would remove a lot of first time buyer from the market.

[an]

Anyone in the loan biz can confirm this? If this is true and we’re back to 20% down minimum, this would remove a lot of first time buyer from the market.

[an]

Anyone in the loan biz can confirm this? If this is true and we’re back to 20% down minimum, this would remove a lot of first time buyer from the market.

[DoJC]

According to my loan agent: new Fannie Mae rules require 15% down in CA. That’s the normal 10% plus 5% since CA is a declining market.

I see this news as having two effects: even less borrowers will be able to afford a home; prices will go down even further.

So much for yet another bad idea on how to turn the housing market around.

– Doug

[DoJC]

According to my loan agent: new Fannie Mae rules require 15% down in CA. That’s the normal 10% plus 5% since CA is a declining market.

I see this news as having two effects: even less borrowers will be able to afford a home; prices will go down even further.

So much for yet another bad idea on how to turn the housing market around.

– Doug

[DoJC]

According to my loan agent: new Fannie Mae rules require 15% down in CA. That’s the normal 10% plus 5% since CA is a declining market.

I see this news as having two effects: even less borrowers will be able to afford a home; prices will go down even further.

So much for yet another bad idea on how to turn the housing market around.

– Doug

[DoJC]

According to my loan agent: new Fannie Mae rules require 15% down in CA. That’s the normal 10% plus 5% since CA is a declining market.

I see this news as having two effects: even less borrowers will be able to afford a home; prices will go down even further.

So much for yet another bad idea on how to turn the housing market around.

– Doug

[Author]

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