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« Help The Huckleberry | Main | A Rebuttal From Radford University »

October 13, 2008


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Tommy Clapp

Great post. The wide open lending practices have fallen by the wayside. I guess the powerful lesson with the current credit crunch has shown that not everyone with a pulse should be able to get a mortgage.


Jeremy Hart

Further, I like that we're getting back to lending basics - you have a job, you have good credit (it doesn't have to be excellent, but you have to be able to show you're paying your bills), and you're putting money into the purchase. There's nothing wrong with having to finance a purchase, but I firmly believe that you need to have money in the purchase. If you have money that you've been saving and you can put down 3%, put it down! If you have 20% available, put it down! We can sit down together and go through the buyer's situation to see what makes sense, but it's important - for a number of reasons - to have the financial commitment, in my opinion.

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