Welcome To The Machine

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Mortgage companies. Blah. Back to the good old days when lenders actually want some information before they give you big money.

According to a local mortgage expert, here are some recent changes that will affect buyers and sellers.
1. The 80-10-10 are gone gone gone. PMI is the New Black.
2. Condo questionnaires are the norm again. Be prepared to have them filled out. If you are not prepared, the property closing will be delayed.
3. Budget 15 additional days in the closing process for information gathering and analysis by the lender.
4. Ha Ha to you if you own if a building with a high renter to owner ratio. If I were a seller I’d know that ratio and talk to lenders and their criteria. You have to be able to offer your buyer a a way to get the mortgage. Do you hear me Velocity owners. Juilana owners.

Where have you been? its alright we know where you’ve been

Hoboken Condos 2008
Sold 2008
1 Br 63
2 Br 113
3 Br 13
Information deemed reliable but not guaranteed

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