Will it be harder to get a mortgage? with the government closed mortgage lender Indy Mac?

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what happens to first time home buyer? probably affect FHA loans, and

3 Comments
  1. Reply
    lee h
    April 29, 2011 at 9:04 pm

    might be for some but many my self included get letters asking to lend me money if you had good scores and ratios before you probably still do

  2. Reply
    Big daddy
    April 29, 2011 at 9:58 pm

    I really don’t think so, countywide go lucky with B of A taking them over, but now B of A has a whole bunch of bad debt on their books that they need to deal with, they may tighten their standards and be more picky about who they lend to. If the Fed bailed out bear stearns, there is no possible way they will let fannie and freddie fail, they are much bigger entities in the financial system and no lender has the capacity to help them out right now. In general, it is harder to get a loan, and rightfully so. Money was available and everybody got greedy, now it’s time to pay the piper. Why give individuals false hope by forging docs and bolstering income, I’d much rather see someone not get approved than have them go through foreclosure or bankruptcy, to me it’s morally wrong

  3. Reply
    Two peas in a pod
    April 29, 2011 at 10:30 pm

    The loans are going to be full doc, there will be no more stated programs. the Selfemployed, can forget it.

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