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Once upon a time, if you could fog a mirror a lender would give you a pre-approval letter. Heck they'd probably even give you an approval letter. Now that letter wasn't worth the paper it was written on. But that didn't stop anyone.
No one is a fan of the real estate collapse, certainly not me. But I was very glad to see the end of worthless lender letters.
But...they're back! I've experienced this first hand myself and also started to hear the stories again from other agents.
So, if you're a buyer, be careful who you're doing business with! A lender who leaves you standing at the altar within a few days of closing can cost you serious money or even lose you the house you're trying to buy!
Call me if you want some help with a list of good, local lenders. (I have a strong preference for local so I can hunt them down if something goes wrong!)
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