The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Gary Burton who wrote (86893)	8/24/2007 10:29:25 AM
From: Think4Yourself	Read Replies (2) of 306849

Not sure what you are asking. I do know that many buyers in the last month thought they were ok because they were pre-approved. When they went to close the funds were not there because the pre-approval didn't hold. Not sure why but suspect this was due to the pre-approval being based on the old standard. Once the guidelines became enforced the lenders realized they would be stuck with the weak loans. That is just a guess.

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