Podcast: Why are loans taking longer?

It’s a waiting game…

If you’re in the middle of a real estate transaction, you don’t need me to tell you that mortgage loans are becoming difficult to get pushed through, even after the buyer is “pre-approved” for a loan.    There are two primary reasons why this is happening:

1. New appraisal laws.
2. Tightened guidelines for loan underwriters.

The can result in delay that can range from several days to weeks for the final approval of a home loan.    This means that the planned escrow close dates are being delayed, which frays the nerves of both the buyers and the sellers (and the agents!)

For more information on why this happening, click the “Play Now” link below to check out the White Oaks Blog Podcast:

Podcast: Play in new window | Download (0.0KB)

(If you’d like to download this podcast, simply click on the Podcast icon at the top of the post.)

———————————————————————–
_____________________________________________________________________________

Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
Get the best coverage on the San Carlos real estate market delivered right to you!
_____________________________________________________________________________

Related posts:

1. Bank of America Closes the Door on High-Balance Conforming Loans.
2. Podcast: Will 2010 Be a Better Year for San Carlos Real Estate?
3. Podcast: San Carlos Real Estate is LOCAL.
4. Section 1 Clearance? Not just for FHA Loans Anymore…
5. The “Real Estate Minute” Podcast for 2-25-08: Extending the Conforming Loan Limits…is it hope or hype?