Realtor's Say it Is A Buyer's Market

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Originally Posted by MAXUM

Not entirely true. Banks will lend. Heck I had no trouble at all getting a mortgage on the place that I bought this year. However the fundamentals are simple - good debt to income ratio, 20% cash down, and decent assets above and beyond the down payment. Sadly many spend as much as they make, save little if at all and are carrying significant debt. Yes unlike in the recent past, these individuals are now being passed by as to risky and rightly so. Even if a bank gets 'gazabillions' from the Gov't, making a loan that is likely to default doesn't do anyone one any good.

I respectfully disagree with your disagreement I have no debt outside of a mortgage, pay credit cards off each month, about 25% debt (which is only the mortgage) to income ratio, 60% down payment, no defaults or bankruptcies. This is all a current and ongoing event for me, maybe you slipped in under the wire earlier this year, congratulations on your new place