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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: Gary Burton who wrote (86893)8/24/2007 10:29:25 AM
From: Think4YourselfRead Replies (2) | Respond to 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.