Posted on 07/29/2009 5:00:00 PM PDT by fiscon1
In mortgages, anything can make a difference. The same person could qualify for a loan if the property is a single family unit and get denied if that becomes a townhome or Planned Unit Development. A loan could hinge on whether or not a condominium has four stories or less or five stories or more. While standards became quite loose over the previous five years, it's important to understand that tens of thousands of rules exist in the mortgage world. Everything I just described concerns rules for RESIDENTIAL properties. Commercial properties are a totally different world.
(Excerpt) Read more at theeprovocateur.blogspot.com ...
bump for later interesting read...
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