I’m actually having some fun these days working with a buyer client and lender to put together some “unconventional” financing by today’s standards. But it also makes me a little crabby when I hear people whining about lenders and blaming them for everything that’s wrong with the economy and real estate.
But then again I also smiled when I heard what Greg Rand, CEO of OwnAmerica, had to say on “Rand on Real Estate”–his radio talk show. Admittedly he focuses on the commercial market, but he also makes a point that’s worthy of some thought. Lenders aren’t trying to make things difficult; they are simply returning to standard lending practices they were using a few years ago.