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U.S. home prices keep rising, but homeownership is down
Los Angeles Times ^
| 04/30/2013
| Alejandro Lazo
Posted on 04/30/2013 7:31:38 PM PDT by SeekAndFind
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To: B4Ranch
On what planet? No bank will give you cash to go shopping with unless you qualify for a nice fat personal loan. You can get “pre-approved” for a mortgage up to an amount the bank “qualifies” you to borrow, but you and seller must still jump through bunches of hoops before the sale is approved and the deal closes. PITA process, which is why a cash offer will be accepted over someone that has to use a mortgage.
To: GILTN1stborn
I guess your experience with buying homes is different than what I have had. I bought one last week. I had gone to the bank last month and said I needed a home for my daughter who wants to move to Nevada. I gave them a value range that I was considering, about half of mine. It took the bank eight days to say, “Go for it.” 2.99% for a 10 year mortgage.
My wife and daughter looked at half a dozen homes, selected one, put in an offer. It was accepted and thirty some days later it closed.
22
posted on
05/02/2013 8:10:00 PM PDT
by
B4Ranch
( There's Two Choices. Stand Up and Be Counted ... Or Line Up and Be Numbered.)
To: CurlyDave
Has anyone ever accused a libertarian of patriotism?
23
posted on
05/02/2013 8:18:36 PM PDT
by
Pelham
(Without Deportation you have De Facto Amnesty.)
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