New Consumer Article: Cash to Close - A Basic Primer
The new consumer article for today is Cash to Close - A Basic Primer. The article discusses how much cash a buyer of real estate has to have in order to make the transaction happen. Proving that you have this money has always been an underwriting standard, and it is required before loan documents are generated. With the tightening of lending standards, lack of sufficient cash to close has become one of the big reasons why purchase transactions fail to close, and even a significant reason why refinancing may fail.
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