Whose Left?

by Snets ~ May 13th, 2011. Filed under: Blog.

How many of you are out of the mortgage game for the foreseeable future – probably not that many if you’re reading this.  Ok How many have family, friends and neighbors that are out of the mortgage game.  They have screwed up their credit – their houses are underwater or whatever.  We used to be able to convert the majority of folks that called us for assistance.  Sadly that is no longer the case.

All of the no income programs for Florida mortgage are gone.  Some would say that is a good thing.  Underwriting standards are much tougher than they used to be.  Some would say that is a good thing also. 

The problem is it has reduced the pool of folks that qualify drastically.  Now you combine that with all the penis enlargement drugs short sale and foreclosure inventory and shadow inventory out there and property values are under siege.  With one investor we deal with 13 out of the last 15 appraisals have required “further review”.  (never mind that you have to order appraisals through 3rd party sites that you have no contact with – thank you Governor Cuomo)

The mortgage business is not easy and it’s not for the faint of heart.  We spend many toss and turn night worried about conditions and appraisals.  But we manage to get em closed – that’s the important thing. 

Anyway – need some mortgage 411 or advice – give us a call – we have been doing Florida mortgages for 20 complaint free years.  Give us a call or stay thirsty or whatever and Miami HEAT in 6 – can’t hurt!

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