Fannie/Freddie to only buy loans with certain apprasiers

[xsocal land merchant_IHB]

This should put a little more pressure on buyers and lenders. Freddie/Fannie will only buy loans that have tightened apprasial rules.

My perspective is that even as prices come down it will be harder and harder and more expensive to qualify for a loan. We will not see lower prices with easy to get money.

Comments will be interesting.

Regards

 

[WINEX_IHB]

>My perspective is that even as prices come down it will be harder and harder and more expensive to qualify for a loan. We will not see lower prices with easy to get money.

That certainly makes sense. If money was too easy, demand would increase and so would price.

Until recently, I would have said that you can always refinance when credit is less tight and lower your interest rate, but that you can never renegotiate your loan balance.

Sadly, it's looking more and more like the loan balance can be renegotiated for you by the government.