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MikeSmoke · 07-20-2009, 12:52 PM

It's the economy, stupid. (Not you - that's just the saying lol)
I was just shooting the shit with my local assistant branch manager while she was doing something for me, and she'd just gotten off the phone, talking to someone about a mortgage.
I asked her "you still give those things out?" and she laughed. "Not really," she said - "it's amazing, people come in with documentation, enough income and equity, a FICO of 800, and they still get rejected. I've told most people who obviously should qualify, 'don't even bother right now.'"

(Slightly germaine: I live in a nice neighborhood, and the house next to me and the house diagonally across the street from me were for sale. The people next door were retired only lived there half the year, spending the summer with their family up North - don't know anything about the other people so they may or may not have had economic problems. But the house next to me was for sale at a *good* price. It sold within two days - and the other house also sold at around the same time.
Two days after the house next to me sold - it was back on the market, and the next day, the second house was back on the market. No idea on the circumstances, but my guess is that people who could probably afford to buy in this neighborhood, just couldn't quality for mortgages.)

07-20-2009, 12:52 PM
MikeSmoke Confirmed User Join Date: Nov 2002 Location: SoCal Posts: 3,233	It's the economy, stupid. (Not you - that's just the saying lol) I was just shooting the shit with my local assistant branch manager while she was doing something for me, and she'd just gotten off the phone, talking to someone about a mortgage. I asked her "you still give those things out?" and she laughed. "Not really," she said - "it's amazing, people come in with documentation, enough income and equity, a FICO of 800, and they still get rejected. I've told most people who obviously should qualify, 'don't even bother right now.'" (Slightly germaine: I live in a nice neighborhood, and the house next to me and the house diagonally across the street from me were for sale. The people next door were retired only lived there half the year, spending the summer with their family up North - don't know anything about the other people so they may or may not have had economic problems. But the house next to me was for sale at a good price. It sold within two days - and the other house also sold at around the same time. Two days after the house next to me sold - it was back on the market, and the next day, the second house was back on the market. No idea on the circumstances, but my guess is that people who could probably afford to buy in this neighborhood, just couldn't quality for mortgages.) __________________ icq: 541-739-92 Last edited by MikeSmoke; 07-20-2009 at 12:55 PM..