How To Get loans with poor credit score. Team Thayer #mortgage #realestate #housing #finance #market #news
Although interest rates have rebounded, banks are still experiencing post-traumatic stress disorder (PTSD) from the foreclosure crisis. They are painfully aware that loose lending kicked off the nasty economic domino effect that ended in millions of foreclosures and billions of real estate dollars lost. As a result of this mortgage PTSD, banks have raised the bar on what it takes to get a loan. They know the riskiest borrowers, the ones who walked away from their homes when values plummeted, are typically the ones who weren’t as invested in homeownership and didn’t put a down payment on that Eugene, Or real estate.