Ok, so times are changing. You dont qualify for financing just because you have a pulse anymore. But one thing I can say is that I'm still taking as many, if not more, applications then before...so, what if they dont qualify? Do we kick 'em to the curb?
Buyers and borrowers look to us for advice. We are the experts! I recommend highly that EVERY agent and lender have at least a basic understanding of how credit works, what effects it, and the best ways to fix it. Align yourself with a credit repair company for clients that are past the point of a quick solution and be ready to advise them on a course of action for the future if they cant qualify right now.
Guage your clients desire. Find out why its important for them to buy a home, and you will be able to tell which clients are serious about investing a little time and effort into cleaning up their credit. Once you have that willing client...stay with them through the process. Keep in contact, check on their progress, etc. Your clients will appreciate it, and you will have earned their business AND respect by being the expert and offering advice that would impact their future.
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