In typical business fashion mortgage companies went from passing out money to anyone that breathed in the mid-2000s to taking your first born and a pint of blood today. The overreaction seems to have gotten over-extended. I have witnessed over qualified luxury home candidates be raked over the coals with details, paperwork and last minute requests to grant their loans. Finally, we see the beginning of movement in the direction of easing. New rules were recently adopted by six federal agencies include the removal of big stumbling blocks for future borrowers. While the majority of our Las Vegas luxury home buyers pay cash for their homes, it’s still refreshing to see ridicules mortgage rules eased and it might add new luxury home buyers to the market.
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