While we all know that life is no fairytale, we often proceed through our decisions with the proverbial rose colored glasses.   With each less than the best decision that we make, there needs to be one who comes in and handles the messes left behind.  Sometimes it is our spouse, sometimes, it is a parent.  Other times, it can be a trusted friend.

In the financial world, it has so often been a Mortgage Professional.  Whether a loan originator, a mortgage banker, a loan officer, or a mortgage broker, we have all seen our share of disasters.  We have all come in to clean up messes, both financial and personal.   We also have success stories which surpass all of the disappointments we read about in the paper today.  Read on; discover your inner Dwarf!

So I begin my story...as Snow White with my own set of Seven Dwarfs:  Sleepy. Dopey, Doc, Grumpy, Bashful, Sneezy, and Happy.  They each have their own issues and things we go through to clean their mortgage up.  It is my hope that you can learn from their "mistakes" rather than make them on your own.  Experience is a tough way to learn a lesson.   Learn what you can here...and drop me a line when you are ready to discover what type of Dwarf you are!

Sleepy~ While purchasing or refinancing a home, it is always a good idea to stay awake and alert.  Unfortunately, I have seen too many buyers (borrowers) who feel comfortable with their choice of lenders.  On occasion, though, once they are comfortable, something happens that turns the sweetest of homeownership dreams into a nightmare.  It can be the loan consultant not locking in that great interest rate.  It can be that when they get to the closing table their loan all of a sudden has a pre-payment penalty.  The borrower has never heard of this before.  Nor do they know what to do.  There are many things that can be done to stay on track with this transaction.  First, pay attention to each signature you provide.  Only sign papers which you understand completely and agree with.  Many borrowers make the mistake of valuing only the closing documents.  Your initial  documents, though, are equally important.  They can save you money in the end.  I would also recommend that you ask your loan consultant to put their services in writing.  I recently began providing my clients a "Bill of Rights" which I go over with them and sign.  These items are my guarantees to them.  Guarantees that I will deliver what I promise in writing.  If you would like to see my Bill of Rights, I will gladly provide them to you prior to your making any commitment.

Dopey ~ This borrower is uneducated in the current market.  They are also the type of Dwarf who is most commonly taken advantage of.  This borrower has decided that mortgages are boring and too hard to understand.  So, they take the commercials they have seen, the news they hear at the local village coffee shop, and what their "friends" tell them, as gold.  What they should be doing is conducting some sort of research.  While it is true that the market is always changing, it is also true that there is a wealth of knowledge out there to understand mortgages in more layman terms.  If you yourself have been this type before, do not fear.  The simple cure to this is to educate yourself.  Go to websites which are not trying to sell you anything.  Read books, articles, whatever you can get your hands on.  Talk with friends and family who have had "luck" in Real Estate.  The truth of the matter is that luck is only as good as your education is.  I would recommend the simple, Mortgages for Dummies.  You can find some preliminary information here.  Go get lucky, read on, and then find a qualified Mortgage Professional (I know one, by the way, should you be in the market for one.)

Doc ~  I am one who loves that my borrowers have done research on the loan process.  I adore it when the client has all of their paperwork together and ready to go.  I currently have two clients in purchase situations with documentation already in my hand.  These clients do not know for sure yet which home they are going to purchase.  I will tell you what, though, this client who is already in the lenders system will get locked in with the best interest rate.  They bring their "A-game" every time I ask for anything.  The only caution which I would have to this type of borrower is to let the Mortgage Professional do their job ~ Occasionally this type of borrower believes they know everything.  Remember that the mortgage industry is constantly changing and that a good Mortgage Professional will have more current information and knowledge than you can.  For those of you who are this type of borrower...let me know when you are ready for a refinance or purchase...I'd love to have the opportunity to serve you!

Grumpy ~  It's true...most loan consultants do not enjoy this type of borrower.  If you do fall under this category, do not fear!  Getting the most out of your Mortgage Professional and your home loan is attainable.  Some of us love the grumpy borrower.  I, for example, realize that what many perceive to e grumpy or negative are actually just cautious individuals.  These borrowers are not quick to grant trust to any person with ease.  They are "grumpy" because they want their Mortgage Professionals to be honest, hard working, and on their toes.  Remember, too, that in the Disney classic, Grumpy was among the most loyal to the Princess.  You "grumpy" borrowers are very loyal once you have been served the way that you would like.   I would recommend to you that you get referrals for a great Mortgage Professional (let me know...I can get you a few live people to talk with)!

Bashful ~ No need to by shy.  Again, a simple solution exists for this type of borrower...for you.   I know that the process can be intimidating.  I know that it proves overwhelming at times.  But, let me encourage you to come out of your corner where you fear what is happening in our national and global economy.  Let me tell you with sincerity that what is going on is fixable.  You can still get a great mortgage and a great home.  You can have a positive experience.  In fact, now can be the best time of your life for a home purchase or refinance.  Interest rates are lower.  Home prices are lower.  You will never know what your best move is if you are too fearful -- too bashful to stand up and ask the question.  There are homeowners all over the place who are too ashamed of their present situation to call out for help.  We can help you -- I can help you.  I may not even refinance you.  I may help talk with your lender to help you get back on track with your mortgage payments.  Do not allow your past to determine your future out of fear.  By the way, I will not be bashful in asking you to allow me the chance to help you out with your home loan.  :-)

Sneezy ~ Every one of us has a little sneezy in us.  While more abstract in this comparison, it is very important to remind you that during the stress associated with this financial decision, you need to take care of your health.  Time is of the essence in obtaining financing.  You need to be healthy.  You need to take your vitamins -- to get your rest.  This type of borrower does not intend to slow down the process.  However, we Mortgage Professionals rely a lot on you -- the borrower -- to get information to us in a timely fashion.  Be prompt and punctual and your loan closing will be smooth!

Happy ~ While it can be great fun to work with this type of Dwarf, it can be a challenge.  I tend to be a happy person by nature, so I can speak with experience as to my "weakness".   As a "Happy" borrower we tend to be easily distracted and lose focus on tasks which are so large and not easily understandable.  My advice to you -- is that if you break the whole process down into smaller pieces, you can maintain your focus throughout.  Also, we happy types are very trusting.  As much as it goes against my nature to do so, do not trust everyone you meet to advise you on your home loan.  Get referrals.  Check references.  Do your homework.  And don't forget, I would be happy to help you out!

I hope that yu found this to be fun, creative, and educational.  There are programs out there for each of you.  A Mortgage Professional turns out to be a very intimate relationship.  Knowing who you are in the process can be very helpful in determining what you will need the most from your Mortgage Professional.  If I do not meet your needs, I would happily refer you to someone who will. 

May I wish you the Best of Luck in Chasing Your Happily Ever After!