EASY REAL ESTATE Loan Programs Disappear!
EASY MONEY IS FAST BECOMING a thing of the past. On August 1st I spent a full day in a class called Finance. The mortgage banker teaching the class talked about disappearing mortgage programs. That’s right, the type of loans most real estate investors depend on are becoming an endangered opportunity. The very next morning, August 2nd, an unwelcome e-mail announced an underwriter wanted a “review” of an appraisal before they issued loan approval. An hour later a well respected mortgage broker announced to over 100 Kona Real Estate professionals that she no longer had a source of funds for Stated Income or No Ratio loans. Later in the day an e-mail arrived from Florida announced a contract just fell through because new “more stringent rules” caused a loan to be denied.
MORE INFO AND INSITES available to my clients in PASSWORD protected releases. Contact me for more information about joining the group.
Joyce Murphy, Realtor Broker BIC
Accredited Luxury Home Specialist
Hawaiian Isle Real Estate LLC and Luxury Real Estate Florida, Inc.
“In Real Estate, Experience Counts!”
808-443-4302 / 808-327-1155
More Kona Real Estate Information at:
www.LuxuryRealEstateHI.com
Filed under: Real Estate Information
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