Tell your client to pay their mortgage

When I applied for my first credit card, I was stunned by the outcome. 

I was given a monthly limit of more than double my monthly income. 

The only instruction I was given is to look for my new credit card in the mail and activate it when I receive it.  Oh, and I was given a book about the rewards I'm eligible for if I borrower many thousands of dollars.  If I wasn't a lender and knowledgeable about credit I might be in trouble.

This cannot be the way with applying for a mortgage.  First-time buyers, just like first-time credit card applicants,  need a little extra help and guidance.  Tell them the importance of on-time payments because:

What are the consequences of one 30-day late?

1.  Reduced credit score by 30-75 points.

2.  Good luck applying for a mortgage within 12 months, and in some cases, 24 months.  This will disqualify potential borrowers with most lenders.