Murphy's Law says "Anything that can go wrong will go wrong." Unfortunately, that adage holds true in the mortgage approval process. Any number of things can take your pre-approved client from homebuyer to sideline sitter. While the list of issues that can arise between initial pre-approval and closing is long and varied dependent on the client's situation, one thing is always consistent. Problems, last minute surprises and cancelled closings are everyone's worst nightmare. Here are a few of the hiccups I've encountered recently and while some may sound funny, there's never anyone chuckling when the loan is denied. What Can Go (39 comments)
loan approval denial: How to Avoid Loan Approval Delays or Denial
- 04/23/11 03:46 AM
How to Avoid Loan Approval Delays or Denial Congratulations! You finally found your clients the home they've been dreaming about. You made a bid and had it accepted. Your buyer has met with their Loan Officer, completed the mortgage application and the loan approval process is underway. Everything is looking good, the closing is only weeks away and even though you're hesitant to allow yourself to get excited, you're secretly doing the happy dance. It's smooth sailing from here, right? Probably. However, in an industry that feels like a continuously moving target, it's not always easy to recognize what the next (3 comments)
Author Bio: Rebekah Radice is a social media marketing, internet marketing and content marketing specialist. Rebekah Radice consults with business professionals to assist with their social media and blog marketing efforts.