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> They are unlikely to have mortgaged it, as most lenders won't lend past retirement for obvious reasons You can't deny a loan due to age in the U.S. It's spec
by mordechai9000 7y ago
> They are unlikely to have mortgaged it, as most lenders won't lend past retirement for obvious reasons
You can't deny a loan due to age in the U.S. It's specifically forbidden by federal law.
- notatoad 7y agoyou can deny a loan due to the applicant not being employed though, right?
- usefulcat 7y agoLast time I bought a house, being an employee was a requirement (in the US, post 2008). I had a good job and plenty of income for the loan, but since my job at the time was as a contractor they wouldn't lend me anything unless I'd been a contractor for at least several (5 IIRC) years.
- Anon84 7y agoNo need to deny it. Just make the terms and conditions unreasonable.
- jtbayly 7y agoYes, but you can deny a loan for not having steady source of income. That's what retirement usually means. It refers to whether you are working, not how old you are.
- kolbe 7y agoIt's also not true. Lenders don't give a shit who they lend to so long as the loan qualifies for insurance by the government or can be sold to a GSE.
- deleted 7y ago[deleted]