Buyer Alert...

Mortgage and Lending with Guaranteed Rate NMLS #1369162 GR #2611

I'm a Mortgage Broker.  Been in the business for a long time.  I have a question for you Real Estate Agents that have buyers right now:

What are you doing to get your buyer prequalified for a loan?  Are you using a mortgage broker or direct lender?  Any fall out?





Comments (4)

Sean Allen
International Financing Solutions - Fort Myers, FL
International Financing Solutions

Hey Richard,

Good questions.

Sean Allen (my first name is Richard also)
The Mortgage Professionals
Professional Credit Consulting & Repair

Aug 24, 2007 06:05 AM
Bill Cherry, Realtor - Dallas, TX
Broker & Wealth Coach

I'm using prayer.

Prayer that those who got us into this mess will burn forever in the Place of No Redemption. 

I never built my business on serving people who will ever have trouble buying what they want when they want it.  Recession or not.  Countrywide in business or out.

However, my heart certainly goes out to those who have.

Aug 24, 2007 06:21 AM
Richard J. Allen
Guaranteed Rate - Santa Clarita, CA
Vice President of Mortgage Lending

I'm sitting at my desk as two more emails come in.  Two more lenders are going out of business.  I wonder when this will settle down and then turn around?

You have buyers?  Good luck.  People need to have cash for a down, good credit and proof of income or they aren't really a buyer, they are a "looker".



Aug 27, 2007 11:43 AM
Blogger To Be Named Later
Richard, my business has turned from transactional to situational in that many buyers and sellers have determined their objectives are "to be determined." If folks have a roof over their head, whether renting or considering a move-up, they're in no rush. Like suspended animation or an endless game of freeze tag.
Nov 08, 2007 12:39 PM