Not exact matches
Across the country short sales are
becoming more common, deals where an owner sells a home for less than the value of the
mortgage WITH
approval of the lender.
As a result, securing
mortgage approval with poor credit ratings
becomes a real possibility.
It may either help you get a
mortgage approval and low credit rates or
become an obstacle to your goals.
If you're denied, chat with a
mortgage banker to figure out why and the actions you can take to
become approval - worthy.
With recent changes to
mortgage approval especially the implementation of
mortgage stress test it has
become harder to qualify for first time home buyers
mortgage.