Mortgages: Start Your Trip Early and Allow Yourself
Enough Time to Arrive at Your Destination Safely
My wife and I took Sunday off and went for a drive. We decided to get to our destinations as quickly as possible and traveled the interstate. Traffic wasn't terribly heavy and moved along at a fairly good clip.
But it soon became obvious that what I considered a "good clip" wasn't good enough for a few on the road. Some drivers were zigging and zagging and speeding back and forth across lanes.
We also saw a lot of tailgating going on. Drivers following the cars in front of them so closely that they might as well have been in their trunk. To my wife and I it appeared as if the tailgaters were "pushing" and trying to intimidate the drivers in front of them ... trying to send them a message. "Go faster! You're going too slow. I need to get somewhere!"
Not too many of the "push-ees" got out of the way of the "push-ers" though. For whatever reason, they stayed their course. They weren't intimated by what they viewed in their rearview mirrors. They stood their ground.
It occurred to me while we were driving that there are some similarities between the tailgaters we were seeing and what I've been seeing in a few of my Mortgage Processes as of late. There's been "push-ees" in my rear view mirror fairly often too.
The biggest "push" factor has been short Closing Dates placed on sales contracts. Some as short as 2 weeks. On a few occasions, the Buyers involved in those transactions hadn't:
- Started their Mortgage Process
- Progressed far into the Mortgage Process
Or: Were purchasing properties that had obvious appraising/inspection concerns associated with it. All reasons to consider providing more time, not less for the Mortgage Process.
Today's Mortgage Process has become a highway constructed of documents, communications, steps, and paths. It's also constructed of humans. Humans, both client and professional, that don't always respond as they should or as quickly as we might like. These human responses (or non-actions) cause a rippling effect within the Process and often cause a delay in Closing.
"Push-ees", (i.e. mortgage transaction "tailgaters"), can push all they want. They can even "crawl into my trunk" for that matter. But it doesn't change that a certain amount of time, attention, and action needs to occur with each Mortgage Process. All of them take time. "Pushing" doesn't typically help in getting them to the Closing table any faster.
As a Mortgage Lender, I am totally invested in the success of my clients and my Mortgage Process. And I do all I can to facilitate the Process as quickly and smoothly as possible. But my advice for mortgage transaction "push-ees" is much the same as I'd give to their highway counterparts ...
Mortgages: Start your trip early and allow yourself enough time to arrive at your destination safely ...
* Looking to Buy or Refinance a Home in the Lincoln-Way communities, Will County, DuPage County, or elsewhere in the Chicagoland area? Contact me today! I'll put my 36 years of mortgage expertise and experience hard to work on your behalf.
I can be easily found at:
Ready to Apply for your Mortgage?
Comments(9)