Loans Are Tough To Get - Page 2 - Property Investment and New Homes For Sale Forum

DianaR · #11 (**permalink**) 3rd August 2008, 07:02 PM

Quote:

Originally Posted by elvenrunelord

Very much so DianaH. We do need some restructuring in the financial sector in this country. The foxes have slipped in the hen house and are getting fat. The good thing about this is a fat fox is easy to catch

Too many of the regulations, meant to prevent this very situation, were removed. I hope lawmakers are paying attention to what has happened so that those regulations remain in place permanently.

I am not holding my breath, though.

Orrymain · #12 (**permalink**) 3rd August 2008, 09:02 PM

Yep. Overextending isn't just a private concern. If the mortgage companies hadn't done stupid things, we wouldn't be in this fix, either.

mandiees · #13 (**permalink**) 4th August 2008, 12:11 AM

I really do not see this issue as being a bad thing - it is making people become more responsible financially and we will be better off in the long run, even if it means suffering a bit right now.

Oigen · #14 (**permalink**) 4th August 2008, 10:40 PM

Yes, that's happening everywhere. You can't get money that easy, because the lenders fear losing the money.

jhellie_baby · #15 (**permalink**) 20th September 2008, 04:53 AM

Loans are surely tough to get since lenders always make sure that they will be paid.

qploans · #16 (**permalink**) 22nd September 2008, 04:02 PM

well ken 7700 i agree with u that loans are tough to get bet but i have never faced any problem since i found Quick Personal Loans . this is the best company for quick personal loans .

jhellie_baby · #17 (**permalink**) 22nd September 2008, 04:21 PM

Quote:

Originally Posted by Orrymain

Just getting a credit card is more difficult than in the past. Our financial world is in a hard spot right now.

You are right. It would take months before a credit card is finally approved.

jacksen · #18 (**permalink**) 22nd September 2008, 11:27 PM

It is harder to get a loan for anything right now - a house, starting a business, etc.Experts say the rules for obtaining a home loan have undergone more revision in the past 18 months than during any comparable period since the Great Depression, as lenders seek to do away with practices that landed their industry in its current crisis. Changes include tougher credit-score and down-payment requirements; a recent crackdown on stated-income "liar loans"; the disqualification of rental income on some loan applications; an expected lowering of Federal Housing Administration insurance limits and the pending elimination of seller-funded down payment assistance for FHA loans.
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jacksen

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