In the last day, I have heard of two situations where very qualified buyers with substantial down payments and employment have been delayed, delayed, delayed for different reasons in buying a home. One family is being relocated and in need of a home at their new location asap, and the closing times are so long they may have to put their family into temporary housing, and their household goods in storage. This situation not only delays their settling in, but also increased the cost to the company of relocating this family.
Another family is trying to buy a home, and the process has been going on for almost 3 months and still no closing is in sight.
Does this make any sense when we are trying to come out of a recession! Trying to ease credit? Trying to help companies become healthier?
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