Tougher Lender Rules Around the Corner!
Monday, November 18, 2013
Be prepared...tougher lender rules are around the corner!
In my November issue of Door County Community and Real Estate Newsletter I wrote about new lending requirements that will make it more difficult for some to qualify for home loans. The new rules will impact the self-employed the most with deeper and tougher income analysis. In addition, lower debt to income ratios will be required to qualify for a home loan. The new law protects the consumer by allowing the borrower the ability to sue the bank for making a loan to the borrower that he/she did not qualify for that lead to his/her default.
