The Traderszone Network

Published in TZ Latest News 13 August, 2014 by The TZ Newswire Staff

Stated income loans make comeback as mortgage lenders seek clients

Lenders say these aren’t the same products as the so-called “liar loans” that were pervasive before the housing bust. Instead, the loans are going to borrowers such as small business owners or investors buying properties they intend to rent who can demonstrate an ability to repay, verifiable through bank or brokerage statements. Lenders said they look for enough assets to pay six to 12 months of payments, while also demanding high down payments to reduce the chance of default.

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