They react by raising downpayment and credit score requirements--essentially to cut lending to a minimum while rates are low.Actually, lenders have been gradually relaxing their sphincters over the past 3-6 months... Minimum credit scores for the best programs have been dropping from 720 to 700, and now 680. HELOCs have been extended out from 70% CLTV back to 90% (and even 100% in high income cases.) Reserves requirements have been declining somewhat.I'm not sure it will ever reach the ludicrous 'fog>mirror' status of 7-8 years ago (in fact, I doubt it will in our lifetimes,) but its certainly getting easier than it had been as recently as 2-5 years ago.Dave DonhoffLeverage PlannerP.S. Cath... chill... Paul didn't spit at you ;~)
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