Check this article out ...
"Stricter lending is definitely taking its toll on the market, prompting the National Association of Realtors' president to lash out this week at the current state of private lending practices.
"It appears there is some overreaction on the part of some lenders now in requiring higher down-payment percentages than may be necessary," said Richard F. Gaylord, the group's 2008 president and a RE/MAX broker in Long Beach, Calif., in a statement this week."
http://www.inman.com/news/2008/04/25/age...
Oh the humanity of it all...
This is classic...
Lucky In OC
Luckily for the realtors, they have Chris Dodd to make sure the money guaranteed by the US taxpayer continues to flow unabated into homeowners' pockets.
Patient renter in OC
Damn you banks for shutting off our spigot of blood money! Another clue to the fact that NAR and associated misrepresenting realtors are really VAMPIRES!
Dodd, Shumer and our good friend Barney Frank... The three musketeers? More like the 3 stooges in my book...
I just wonder which PACs contribute to them...
SD Realtor
Stricter lending is definitely taking its toll on the market, prompting the National Association of Realtors' president to lash out this week at the current state of private lending practices
Hey, if he does not like the stricter lending standards, he can underwrite the loans with easy standards himself.. and take on the risk. -- silence --