i know many people who bought new houses within their financial reach, but failed to sell their old houses. nowaday, even if a house has sale contract, the tighter loan approval procedure could easily bog down the deal.
one realtor told me that 50% of the previously approved loans got reviewed by their banks. this is unprecedented.
it is just a sudden economic downturn. people just need to have patience and let things work thru by itself over time.
can't afford due to a sudden loan approval change
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That I agree. But patience is hard to find nowadays.
-Warsteiner-
♂
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09/19/2007 postreply
14:03:25