With all of the news surrounding the mortgage industry, some lose sight of what is important.  Of course, all of this news is not something to dwell upon.  There are plenty of lenders that are closing deals and providing great customer service.  I am using this opportunity to focus on what important advice to give to potential customers. 

Here is three that can assist potential customers:

1) Work with customers long term to realize their goals

Not everyone may be able to obtain 100% financing right now.  Time to work on building credit scores and histories and getting a handle on knowing what it will take to get you to that point.  I recommend my customers subscribe to http://www.myfico.com/ so they can understand their scores and analyze their credit so they know how reach their credit score goals.

2) Obtain a free (truly free) copy of your credit report

This is recommended to all even if you are not in the market to refinance or purchase real estate.  Going to https://www.annualcreditreport.com/cra/index.jsp will allow you to obtain all three reports for free.  This is a great deal.  This service will also provide scoring, but the analysis available is not comparable to the www.myfico.com services.  Nonetheless, it is a free resource.

3) Save, save, save

Working on a plan to have savings.  Again, this is a plan that applies to someone either considering purchasing real estate or not.  The focus on savings is important.  Often, this can be the missing link between home ownership, and renting. 

IF we all realize what is important in these times, well, it will benefit our current and potential clients needs and expectations for now and in the future.

Michael J. Sally

www.mortgagesbymike.com