Ruth Lerner, a William Raveis sales associate in West Roxbury, MA, presents 5 things homebuyers must ask a buyer’s agent prior to hire.
For those of you getting close to the finish line in the home-buying process, be careful, there may be one more hurdle to cross. With tighter regulations being enforced by the government, lenders have been moving towards implementing stricter standards to better prevent careless underwriting and fraud on behalf of borrowers. In the past, a combination of monkey business by lenders and borrowers – including intentional misinformation submitted by borrowers on their applications, lenders approving borrowers with unsatisfactory credit histories, distorted home appraisals, lenders downplaying the risks of “teaser” rate ARM loans and much, much more — led to a slew of problems in the housing market, which most of us have become all too familiar with.
