Monday, July 19, 2010
Mortgage Lenders Reluctant to Lend to Prospective Borrowers on Maternity or Paternity Leave
NY Times: Seeking a Mortgage? Don’t Get Pregnant, by Tara Siegel Bernard:
Expectant parents shopping for a home are not the only ones concerned about the date of the baby’s arrival.
Mortgage lenders are taking a harder look at prospective borrowers whose income has temporarily fallen while they are on leave, including new parents at home taking care of a baby. Even if a parent plans on returning to work within weeks, some lenders are balking at approving the loans. . . .