March Madness?
Maybe a well known college Basketball Tournament but reality is I think most could do an easy transition to any month we, in the Real Estate Industry, happen to be in at the time... (ex: take current month attach Madness to end and voila you have our industry, lol).
With the current state of tightened credit and underwriting standards, timeline issues, cash strapped borrowers and every loan trying to close into the same day or few days each month one would think that something could be done to bring resolution to the problem.
If you have ever been in a traffic jam, due to road construction, its very much similar to how the Real Estate industry is designed to function EVERY SINGLE MONTH. Take the masses (all the traffic on the road) and then squeeze it down from 4 lanes to 2 or maybe 4 lanes to 1! How long does it take for everyone to "wait their turn" have courtious, and non courtious, others let them in or cut them off, and after the long and painful wait is over then its almost immediately back to 65+MPH and an open unobstructed freeway?!?!
So I guess I just have to ask/vent, if we know this is the way we operate, and we are an intelligent and proactive generation, why do we keep doing nothing and allowing the same thing to happen month after month and year after year? Could we not change how interest is calculated by FHA so it follows suit with VA and Conventional? Could we also structure our purchase loans to NOT have to close within the last 3 days of each month causing us all a lot of undue stress and aggravation?
A little foresight and proactiveness/planning can help alleviate a lot of last minute stress and aggravation.
Have a great weekend and cannot wait for March Madness (the tournament and the next months end of month lol)
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