I came across this article in the Herald-Tribune today:
Mortgages drying up in SW Florida (Herald-Tribune: October 8)
It reminded me of a recent job that is now on hold due to a buyer’s financing being denied. It seems like the one case we saw was part of a larger trend maybe? I can’t imagine how frustrating it must be for everyone to have a home lined up for purchase … the buyer is excited … the seller is ready to go buy another house … that home’s seller is ready to go … the movers, realtors, decorators, remodelers etc. are all ready when *boom*
the whole deal falls through …
It’s a domino effect and I hope it can be stopped before it builds any more momentum, we’ve seen enough of this stuff for the past few years! Have you been affected by this? If so, write in a comment to let us know about your experience? Are you a banker who could shed some light on this trend? Hit me up!