Help Me ... Help You!
There was a tragic crash and burn at my office today. a massive meltdown of major proportions.
The explosion effected the lives of two Realtors, a loan officer, a seller and two very disappointed clients. The full extent of the damage is yet to be determined, but let me tell you the BIG secret here...
The entire debacle was 100% avoidable.
A beautiful transaction was in its final hours.
Contracts had been signed.
Approvals had been issued.
Documents had been collected.
Our buyers were dreaming of window coverings and housewarming parties.
Then the phone rang....
The funder called to verify employment for our client.
Imagine my surprise to discover, he quit his job on FRIDAY!!!
Of course there are explanations. He is starting at a new company in two weeks and we can verify that fact eventually, but this loan on this property in this time-frame is DONE! The sellers are unwilling to extend the contract.
So with this tragedy fresh in my mind I offer some insight to prospective borrowers.
- If you plan to leave the country or go on vacation during the lending transaction...tell your Mortgage Professional.
- If you plan on filing any legal action during the lending transaction...tell your Mortgage Professional.
- If you are unable to make your current mortgage payments for any reason during the lending transaction...tell your Mortgage Professional.
If you are a Mortgage or Real Estate Professional, I am sure that you have many more insights to add to my list.
Here is the bottom line.
__________________________________________________________________________________________________________
Tell me everything,
THE GOOD, THE BAD AND THE UGLY!
I will not judge you. I am here only to help you navigate the oceans of lending opportunities available.
Every time I see him, it's almost like I'm looking in a mirror - uncanny isn't it?
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