Wednesday, January 11, 2006

Mortgage Preapproval Letters Not Worth the Paper

By Pat Curry • Bankrate.com

Start shopping for a house and inevitably someone will suggest you visit a lender and find out how much house you can afford.

That visit generally results in a preapproval letter from the lender. It's an important document because in hot real estate markets, many agents won't even show a house without some indication that the buyer can get financing to close the deal. Click link for full story.

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