Mortgage Crisis UPDATE: Banks Tighten Up Lending; Could Lead to Housing Crash
In today's video, we talk about some of the things that are currently happening with the housing market and how banks are starting to tighten up their criteria when looking to approve home buyers for mortgage applications.
JP Morgan Chase is the largest lending institution and is now requiring people to have a 700 FICO score and have 20% of the down payment saved up in order to qualify for a mortgage. Will other banks soon follow with this trend??
Check out the link to CNBC's article, which I used as reference in this video: https://www.cnbc.com/2020/04/11/jpmor...
Please SUBSCRIBE, and check out other clips from the channel: / @alexhamm-realestateinvesti5496