DREAM HM NEWS




Buying and Selling a Home

Why the Credit Pendulum Is Stuck at "Stupid"

By David Streitfeld, New York Times
7/14/2009

Inna Komarovskaya was ready to do her part to revive the economy: She found a “really cute” condo to buy.

Despite a good credit score, a six-figure income and an ample down payment, Dr. Komarovskaya, a recent dental school graduate, could not get a loan. Her mortgage broker told her she ran afoul of new rules requiring two years of sufficient tax returns from some homebuyers, instead of only one.

“Everyone says this is a buyer’s market, but they wouldn’t let me buy,” said Dr. Komarovskaya, 30. “It’s not fair.”

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Print Date: 2/28/2020
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