How do you handle things when they go bad, when they don't go your way. And I am speaking on behalf of a botched closing. A loan officer or lender making a promise that they will close your loan on the date that is in the contract. Or giving you certain rates and or closing costs on paper, to later finding out at closing, that they changed some things on you. Or the worst case scenario, telling you that they can't help you now, the day of your settlement.

Now, don't get me wrong, I am not telling you to go out there and attack someone or maim someone. But what about filing a complaint with someone. It can make a difference. Yes, it does take some effort on your part. But if you don't take a stance of some sort, it will just happen to the next person. 

Okay, so why the urgency now?  Well, I have been a part of a few discussions from a few well-written posts in the last day. Two things that were mentioned within the discussions that I heard,

1. "I don't want to sound like a cry baby"       and  
   
2. "my complaining won't do any good."

Now, I have always considered myself a thinking man. Someone that will usually exert that extra effort to try to make things better. Even if that means taking the time to bring it to someone else's attention. 

Have I done this every time something goes wrong?  No, I'll admit that. Sure, it can take some time out of your busy schedule. But whatever happened to the Power of People? The Freedom of speech? If you don't stand up to what happened, if you thought it was unfair or unjust, then what about the next person that it happens to. Or better yet, that it might happen to you again?

So, let's use an example now for all intense of purposes. I am a loan officer that has promised a closing on the 12th of May with $2,000 out of pocket to the buyer. The 11th roles around and I tell you I need another week to close this loan, for what ever excuse was used. Now it's a week and I ask for one more extension. Bingo, we finally make it two weeks later. But wait, I tell you that you need another $1,500 at the closing. You complain, rant, and rave. (possibly more than this, but we'll keep it "PG") But because you want the house so bad, you come up with the extra money or one of the realtor's cuts back their commission a little to help out with this. Okay, you aren't a happy camper, but you have the keys. You call up the loan officer, because they weren't even at the closing and say, "you won't be getting a referral from me."  The loan officer under his/her breathe, "oh well, I made my money."  Now, you both go your separate ways...... This shouldn't stop here and here is what can be done.

                           What can you do to possibly keep this from happening again? And no, you wouldn't be the only one that could make a difference. But if enough people do it, it can make a difference. Sometimes a follower needs to be a leader at times.
                               

A.  When having a problem with the loan officer, call their supervisor and or manager. Give them the benefit of the doubt at least once. But if they don't return phone calls and or e-mails, don't wait around. This is usually a good sign that something is wrong. (not always, but a good chance)

B.  If it seems like the manager is taking the side of the loan officer, just go up the ladder per se. If it's a small company, speak to the V.P. or the owner/President of the company. If it's a larger company, after speaking to the branch manager, you can then go to the regional manager.

                               C.  So, you either closed on the loan with problems or they denied you last minute. Don't stop here. There are a few things that you can do:                                       

                                           1.  Call the BBB or go to their online complaint system (Better Business Bureau).

                                           2.  Or go to Google and type in state license complaints for mortgages. With this search, you will pull up many different states. If your state isn't there, just type in your state name ____________ followed by mortgage complaints.

                                           3.  Or go to the NAMB site. (National Association of Mortgage Brokers) And then go to this link on the page and click it.  Home Buyer Complaints

Now, I never said that by doing this will make everything better for what might have happened to you. Or that it will correct the problems right away. But if it's the same people doing this over and over, your efforts might get them to stop down the road. Don't be a back seat driver. 

Disclosure: This does not happen to everyone. Nor is every loan officer a bad loan officer. But this is based on real life examples from the past, from speaking to other realtors and consumers.

Part of my inspiration can from reading a blog done by both Neal Bloom and Randy L. Prothero. Both of whom wrote two thought provoking blogs based on their experiences with botched closings.