Sell My House in MD | Why Is There So Much Paperwork Required to Get a Mortgage?

Most real estate brokers and agents don’t really have all the tools needed to provide 100% selling services to sellers that need to sell their houses  quick, for cash and at a fair price. 

This is why we have integrated fully with all the data on the MLS and became a real estate source to thousands of investors in the MD, DC & VA region. 

In order for most consumers to take advantage of the competition between these investors, we've created the perfect system. If you are in the market to sell you home and you are in need for a fair offer  right away... you’ve come to the right place. 

We can provide customised innovation towards all  your real estate needs if you are a home seller.

Today, I would like to talk to you about  Why Is There So Much Paperwork Required to Get a Mortgage?

Why is there so much paperwork mandated by the lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and requires three separate sources to validate each and every entry on the application form. 

Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago. 

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

1. The government has set new guidelines that now demand that the bank proves beyond any doubt that you are indeed capable of paying the mortgage. 

During the run-up to the housing crisis, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again.

2. The banks don’t want to be in the real estate business. 

Over the last seven years, banks were forced to take on the responsibility of liquidating millions of foreclosures and also negotiating another million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they need to double (maybe even triple) check everything on the application.

READ MORE: http://www.reallynicehomes.com/blog/sell-my-house-md-why-there-so-much-paperwork-required-get-mortgage/


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