Listen ... Educate ... and Ask Questions the entire way. It's for your own good!

      You, like me, have probably been reading about the upsurge in home sales and rise in demand for home mortgages.  All good news, right?

    Well, it seems yes ... and no.

    NBC News  just yesterday,  released an article  speaking to this very issue.   Seems that yes, demand for new mortgages is growing.  But banks are not handling the rise in business very well.  And because of this, the new  Federal Reserve's stimulus plan  is in jeopardy.  Or at minimum, in jeopardy of not being utilized to its full potential.

     Part of the hope of this latest stimulus, was that banks would lower interest rates even more than the historic lows we have been experiencing.  This in turn would motivate Home Buyers to enter the market for the first time, or again.  That in turn would produce a domino effect and rates would fall and  ... well, you get the idea.

     But this, is not what is happening.  Many banks or lending institutions are not hiring enough staff to handle the requests for mortgages that they are receiving.  At least not enough to provide smooth and quick turnaround and ultimately, good service.   Why??  Because they say they do not want to have to layoff staff when demand falls again.  

     You probably wonder why I, as a Mortgage Lender, would bring this to your attention.  And this is my answer ...

     NOW more than ever, it is vitally important for Home Buyers and Borrowers to fully engage themselves in their home buying transaction and mortgage process.  From the  first moment you're thinking that you hope to buy or refinance a home, you must  educate yourself  about every step of the Home Buyingtransaction.  Then you must take measures to  fully prepare  for the process too.  And that includes a thorough search for ... and analysis of ... the professionals you choose to utilize during your transaction and financing.   

     And that, is exactly what I'm hoping you will do after reading the above NBC News report and this post.


     Two of the most important questions you can ask any  Mortgage Lender  while in the interview process is,  "What percentage of your applications are you successfully Closing?" ... and  "What percentage of those that you Closed are doing so ON TIME, as stated within the Contract?"  In other words, BEFORE choosing a Lender, ask that  Mortgage Lender  what their "batting average" and "stats" are.  And then take the time and make the effort to verify them.
     
     If those two "stats" are low or they start hemming-and- hawing ... keep looking.  You've not found the right Mortgage Lender ... or the Lender that is equipped to successfully work with you and on your behalf.
      
     As a Home Buyer, YOU are capable of and responsible for directing much of your own destiny.  YOU must be a driving force behind your home buying transaction and mortgage financing success.  Listen ... Educate ... and Ask Questions the entire way.  It's for your own good! 

     *   Work with a  Mortgage Lender  that has a proven history of successful representation and Mortgage Closings.  Contact me today!  I'll put my 35+ years of mortgage experience and expertise to work on your behalf.  (References available)
     I can be reached through any of the following: