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How do foreclosures effect the mortgage industry guidelines?

Posted on: 29th Apr, 2008 04:14 am
I'd like to refer this to every first time buyer who's looking for a mortgage, because things have really changed in the industry ever since the mortgage crisis and foreclosures hit the market.

It is true that the mortgage industry has changed but one of his comments is very important and that is the lenders will always lend money to the borrowers with high credit. So before going for a mortgage borrowers should improve their credit and save sufficient money so that they can pay the down payment and the closing costs. And another important thing is to estimate and understand how much can you afford.
Posted on: 02nd May, 2008 05:25 am
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