One of the benefits of working with Modern Property Management is that you get access to our carefully chosen experts in related fields.
The recent sub prime disaster has frightened many lenders out of the business and made others tighten their lending criteria. Did banks stop lending money? No. They just returned to the old rules that governed the mortgage lending business for decades. If you can prove you can make the payments, the banks will lend to you, just like the old days.
My friend, Clay Selland, runs a mortgage brokerage. Here is a link to his site. He has lots of great insight into the lending world.
http://www.signetmortgage.com/