About The Housing Slump

With the glut of homes on the market wnd with their value ever decreasing this would seem an ideal time for people to buy. However with the loss of jobs, high food and fuel prices and an ever declining credit line it's now seems almost impossible. To get a mortgage these days requires almost perfect credit. Traditionally, for every 10 loans submitted in this manner 5-7 loans would actually get approved and be able to close. However, with the recent trend of typical “subprime” borrowers being submitted for manual underwritten FHA decisions, FHA lenders are seeing only 1-2 out of 10 being approved. You can find qualified buyers now Find Buyers Here