Comments on: Sharing Time: Are You Having Difficulty Getting a Loan? http://blog.redfin.com/seattle/2008/09/sharing_time_are_you_having_difficulty_getting_a_loan.html Redfin Seattle Sweet Digs Sat, 11 Feb 2012 00:35:59 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: How Low Can You Go? | Redfin Seattle Sweet Digs http://blog.redfin.com/seattle/2008/09/sharing_time_are_you_having_difficulty_getting_a_loan.html/comment-page-1#comment-4954 How Low Can You Go? | Redfin Seattle Sweet Digs Mon, 06 Oct 2008 19:14:30 +0000 http://blog.redfin.com/seattle/2008/09/sharing_time_are_you_having_difficulty_getting_a_loan.html#comment-4954 [...] Sharing Time: Are You Having Difficulty Getting a Loan? [...] [...] Sharing Time: Are You Having Difficulty Getting a Loan? [...]

]]> By: WS http://blog.redfin.com/seattle/2008/09/sharing_time_are_you_having_difficulty_getting_a_loan.html/comment-page-1#comment-4927 WS Wed, 01 Oct 2008 14:10:21 +0000 http://blog.redfin.com/seattle/2008/09/sharing_time_are_you_having_difficulty_getting_a_loan.html#comment-4927 I have indirect experience with two loans over the past few months. The first took about 6 weeks to be approved (this was on a pre-approved couple) as HSBC kept stalling, delaying and "losing" documents. The more recent one, also on a couple who was pre-approved, the bank took 2-3 weeks longer than expected and required more documentation than in the past. To be honest, given the circumstances, I am somewhat surprised this loan was approved at all. Credit is out there, it is just tougher to obtain. Having said that, the most recent of the two examples above was a few weeks ago -- and market conditions may have changed (for the worse) since then. I have indirect experience with two loans over the past few months. The first took about 6 weeks to be approved (this was on a pre-approved couple) as HSBC kept stalling, delaying and “losing” documents.

The more recent one, also on a couple who was pre-approved, the bank took 2-3 weeks longer than expected and required more documentation than in the past. To be honest, given the circumstances, I am somewhat surprised this loan was approved at all.

Credit is out there, it is just tougher to obtain. Having said that, the most recent of the two examples above was a few weeks ago — and market conditions may have changed (for the worse) since then.

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