Is it Worth it? A Reflection on the Current Mortgage Process

Thank you, Margaret.  I ask much the same question when clients quiz me ... "would YOU give that amount of money to someone without asking lots of questions and demanding proof of their ability to repay?"  I think it got SO easy, that now seems far worse than it is at times ... JMO ...

Kathy:  Exactly .. there is no circumventing some of the requests and steps needing to be taken.  If clients do not want to participate, then ...

Gene

So true, George.  The effort must be made, IF you hope to successfully complete the process.  With so many, that IF is huge.  Not sure that it matters all that much at times to some ...

Mike:  You're right.  The process is more akin to what I saw when I first entered the business back in the late 70's.  You had to really PROVE something with documentation.  And you had to be involved as a client.  All the technological advances have cut down on the number of actual car trips one must make ... or the amount of actual live conversations you must conduct.  I find that the professionals involved in the transaction are actually more involved in the details than the clients are ...

Jan:  I try (as do many Lenders I know) ... to make the process as smooth and stress-free as possible.  The technological advantages have helped us all immensely.  But that said, it doesn't mean that you aren't going to ask a client to be involved in their own process or to help their own cause.  At times I'm left to wonder how invested they are in helping themselves ...

Andrea:  I don't know how any professional (whether agent or lender) could have gone through the last handful of years and NOT be jaded to some degree.  Totally understand!  I hope we reach a day in the near future, where clients begin to understand once again that good Lenders are on their side and just trying to do right by them. 

Joan:  Definitely true.  And rightfully so.  I wish I could say that the reaction I saw was motivated by that concern. 

Christine:  It can be ... but it doesn't have to be.  ANY lender can be faced with a transaction that has hiccups and problems.  But that said, if a client is working with the best lending professional they can find ... those hiccups should come at a minimum.  

Frank:  Wow .. thank you so much.  Your big thumbs up is greatly appreciated!

Nina:  We all know that those times exist where the requests for info and documentation just goes overboard.  To try to deny that would lessen my credibility.  But ... if clients want to borrow ... there are certain rules that must be followed and documentation that must be provided.  Only they can weigh if going through that process and putting the time in to completing it is worth their effort.  Typically their decision surrounds cash flow for investors.  But the topic speaks to the importance of finding and establishing a good working relationship with a reliable, experienced mortgage lender.  Consistently working with the right professional typically insures you the best possible outcome the greatest amount of times ...

Thank you, Michael.  I understand that those instances exist where documentation demands seem over the top.  But so often ANY request is met with resistance.  This was one of those cases ... it truly shouldn't have been that big of task for them ...

Thank you, Richie ... always love when you stop by and provide your support ...

Jay:  I've used that argument as well.  And clients are always made aware of what to expect throughout their process.  Some just choose not to believe you or forget ...

Kevin:  Unfortunately, the "wants" don't always match the effort they make.  They "want" the money, but ...

Jon:  True.  It can be a headache.  But the best possible headache preventative is searching, finding, and working with an experienced, reliable mortgage professional.  They can't stop ALL the requests (or craziness) all the time ... but they can eliminate much of it. 

Gene

Harry:  I think many want it badly, but don't want to put any effort into it.  That in no way describes the modern mortgage process.  Nor should it ...

Debbie:  The expectations are too often somewhat askew and out of step with the modern process' reality.  It takes time.  It takes effort.  It demands you attention. 

Nick:  Yes!  Definitely true.  But you're also right when you say it sometimes gets "silly".  No Lender can promise that 100% of the time it won't.  And when it does?  You want to make sure you have the right lending professional at your side.  I think if more attention and effort was put into the search for that Lender, many would be better off ...

Gene