Morgage people, are you writing morgages?

I noticed on this board that some people are having their mortgages blow up. They go through the process and don’t get finalized. Are mortgages companies actually writing mortgages now?
I have a friend whose mother died. He needs a mortgage to buy his sister out of her 25 % share of the home. It is an older home in Dearborn ,Michigan that has been rated at about $80,000. He went to his long time bank Co-merica to get it done. He wants a mortgage for about 1/2 the value of the house. He can use VA. But the bank is showing almost no interest. They say it is waiting for the approval committee. But they go on vacation. or don’t call when they say they will. Is he going to have trouble getting a mortgage from anyone? I think his credit is fine, not great . I don’t want to pry into his business but he is 72 and seems to be stumbling through it. What should he do? He went through Dearborn inspections and fixed the house to code. He got a professional assessment.

Yes, just about any bank can offer a mortgage today. You’re friend’s age is probably a factor in the delay. There might be legal repurcussions if they turn him down due to age, but they can take their good 'ole time saying yes. He should shop around.

Should he go to banks or mortgage companies? The house is worth a lot more than the loan but you can’t sell a house in the Detroit area now.

I would suggest he talk to a mortage broker. There is one in my neighborhood who says he can close in 7 days.

If the house can’t be sold, then it is not worth anything. The house is worth what the market will pay.

When it was assessed it was based on comparables. I guess some houses are selling. But he intends to live it the rest of his life. His mother just died at 93.