RENO, Nev., Aug. 5 (UPI) -- Lending rules at U.S. finance companies are changing quickly, eliminating some deals that were previously given the green light, industry observers said.
In Sparks, Nev., Dr. Drake Paul lined up a buyer for his $170,000 home. The buyer's loan was approved, the inspection done, the appraisal completed, USA Today reported. But, two days before the closing, the deal was canceled when lenders bumped the down payment requirement up by $25,500, the newspaper said