Is anyone else getting really upset about the mega big banks blatant waste of everyone's time in a real estate transaction these days? They have gotten so self serving that I sincerely hope that consumers start taking notice and going back to their local banks and credit unions which still remember your name when you walk in and treat you like a human being instead of a file.
It gets exhausting doesn't it.
The clerk at Fannie Mae doesn't understand that owner occupied home ALSO means PRIMARY RESIDENCE.
It's sad that we are at the mercy of so many clearks that process so many transactions who have absolutely no real estate knowledge.
@Lenn, you are absolutely correct. I haven't worked for $7 a hour forever it must be my communication skills that are lacking since I can't relate to them. I learned a long time ago that "You can't rationalize with irrational people"!
I have no problem getting the second opinion after offers are accepted. My issue is that so many of the REO's are priced below market that they will get multiple offers and require that many people to get re-pre-approved and yet only of the buyers will get the loan. I know it helps the lender, but I feel like it is at the expense of everyone else.
I don't mind losing, but usually it is because I didn't do my best. Usually, when I lose at something, I can drop back and realize what I could have done better and use it as an learning excercise for the next time.
Dealing wth these issues is like hitting your head against the wall. The only time it feels better is when you stop! I hate losing because of a "system" that controls me instead of visa versa!
Jim. They're not making $7 an hour any longer.
They're GS 12s who make $120K a year plus health and retirement.
It is sad, the way that lending has gone. We reached the point that we're just never sure what to expect from a lender.
I believe they are now taking training in Confuse the Client 101
It is sad, the way that lending has gone. We reached the point that we're just never sure what to expect from a lender.
I believe they are now taking training in Confuse the Client 101
@Lenn, You have a great way of correcting me and making me smile. Thank you!
@Don, They might be up to graduate level Confuse the Client already. :)
Carrington is one of my best clients, and I have sold many REO for them. Unfortunately, the bank sees a "line of credit" as a loan. I know it is such a pain for buyers and in cases like this makes no sense whatsoever sometimes. I have a contact in the lending department that may be able to bypass the formalities in a case like this. If you need that info, let me know.
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