Why is it so hard to get a loan these days? Two years ago everyone could get a loan, now it seems like nobody can get a loan. There are many aspects that go into how you can qualify. Surprisingly, it's not just your credit rating or financial stability. It's not even just the economic situation. The banks are requiring people to have money and show that they know how to pay it back. For those lucky enough to be able to get bank loans, now is the time to buy and invest in your future.
Read this Realty Times article for more insight:
Why Is It So Difficult To Get A Home Loan? Answers To A Popular Home Buyer Question http://realtytimes.com/rtpages/20090304_homebuyer.htm
Locally, how is Durango doing on the loan front? There are lots of reasons to get a new loan now (if you can qualify), like low rates, tax rebates for first time home buyers and the best buyer's market in years. I have asked local lenders to comment on this post to give you their input and local contact info, so bookmark this page and check back often.
Finally, challenging times call for creative solutions. Even if you can not qualify for a conventional bank loan might be other ways. All hope is not lost. It's time to think outside the box. I am trained in trade and exchanging (EMS, Equity Marketing Specialist), including creative solutions such as seller financing, wrapping loans, creating and selling notes and a number of other potential solutions for getting the deals done.
If you have questions, please call or email me. I love to discuss real estate and other things too.
Claudia
970 247 8388
claudia@blueribbondurango.com
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Great blog, Claudia!
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