Lenders Pulling the Plug

If you're buying a home, you need to monitor the process of your loan approval closely.  Lenders are "pulling the plug" on loans pretty often these days and have even reversed themselves when people thought they had approval, so stay in close touch with your lender.  Ask, "Is it out of underwriting yet?  Do I have full approval?"  The worrisome thing is that "jumbo loans" for the purchase of expensive homes are also vulnerable.  It's not just the loans you'd expect to be "high risk" that are being reevaluated.  If your loan approval "goes south," you want to know about it at the earliest possible time.  That way, you may be able to find another lender in time to save your home purchase deal.