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 Lender Freedom: Alt Loans
16-06-2006
A reader sent me an email yesterday asking, "Hey David, my lender is increasing my interest rate just because I've been at my job less than two years. Can they do that?"
Yes. Lenders can do that. They can do mostly anything they want as long as they do it without prejudice and they can make as many goofy lending rules as they see fit. Fortunately, there really aren't that many goofy rules that are different from lender to lender. But sometimes there are certain "quirks" that a lender may call "exceptions."
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