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: Skeeter Bug who wrote (206902)	6/12/2009 10:07:56 AM
From: Hoa Hao	Read Replies (1) of 306849

First, if they want to deny the loan, they will find a way. They will want to fund purchases over refies. Purchases are first in line in a squeeze... generally. I don't think the answer you just gave should knock it out. If they won't lend to you for fixing up property they will hold a note on, why would they lend you money to speculate in the market?? The cash on hand might be a problem, ideally, the home improvements would suck it all up. Hopefully, you locked in long enough to take care of any paper work chase. If you did an on line app, you knocked out the LO who guides you through this and hustles the loan to settlement. An experienced LO should know what his company/Fannie/Freddie is leaning towards in these cases these days... what's getting through, what's getting rejected. Especially since rates have spike long enough ago to give some indication by now by the last week or two's settlements. Don't forget to tell them one of the improvements is a safe incased in concrete in the basement and gold bars to put in it!! LOL

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