The New “What did you do with your Z today” (with off topic replies)

vtec to vvel · 09-08-2023, 08:56 PM

https://www.cnn.com/2023/09/08/busin...out/index.html

"Have you run into difficulty getting a loan recently?"

1 of 2 things are happening with the aggressive rate hikes:

1. Getting flat-out denied.
2. Getting qualified/approved for much less than before but with a much higher cost to borrow.

Rusty · 09-08-2023, 09:25 PM

Quote:

Originally Posted by vtec to vvel

https://www.cnn.com/2023/09/08/busin...out/index.html

"Have you run into difficulty getting a loan recently?"

1 of 2 things are happening with the aggressive rate hikes:

1. Getting flat-out denied.
2. Getting qualified/approved for much less than before but with a much higher cost to borrow.

Friend just closed on a house today. Took 2 months for the closing to happened. And he was pre-approved.

vtec to vvel · 09-08-2023, 09:30 PM

Quote:

Originally Posted by Rusty

Friend just closed on a house today. Took 2 months for the closing to happened. And he was pre-approved.

It's a good feeling, esp. in today's economic environment. If someone is able to close on a home in current conditions, that means they are in good financial shape (in addition to having lots of patience on actually finding a home to close on).

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09-08-2023, 08:56 PM	#1 (permalink)
vtec to vvel A True Z Fanatic Join Date: Feb 2015 Location: In a house Posts: 4,023 Drives: Z Rep Power: 502911	https://www.cnn.com/2023/09/08/busin...out/index.html "Have you run into difficulty getting a loan recently?" 1 of 2 things are happening with the aggressive rate hikes: 1. Getting flat-out denied. 2. Getting qualified/approved for much less than before but with a much higher cost to borrow.