HOUSE HUNTERS - MORTGAGES HARDER TO GET

Mortgage brokers warned last week that despite an uptick in sales of existing homes in July, the environment remained challenging for homebuyers. Banks, already burned on foreclosed subprime and prime loans, are demanding 20 percent down payments, credit scores of 700 and above and debt-to-income ratios of 45 percent - much higher than they have been over the past several years. Read More

 

< Prev		Next >