Give them your first born if needed.

By
Real Estate Agent with EB Realty

Banks these days are very demanding. For a borrower they want your right and left arm and the first born. Give them what they want and you are on your way to home ownership. Balk and you are going to be homeless. 

Short sales demand even more paperwork. Give the bank what they ask for even if they have it. I work with lots of banks. They ask for the same information today that I sent yesterday. I happily send it. It is only a click of the mouse or a sent fax. In the end you must do what the demand. If you can't baffle them with brilliance baffle them with paperwork. 

Posted by

Elizabeth Birmingham

Grand Junction Homes www.AskforElizabeth.com

Selling Homes in Grand Junction, Colorado 

970 464 1000 in Colorado

 

Comments (3)

Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

People were so accustomed to reduced documentation that they complain about us asking for a pay stub or a bank statement.  In the 24 yrs I have been in the business we have had a lot of changes, but the basic guidelines are not that much different than when I started back in 87.. if anything, it is EASIER to get a loan today than it was in the late 80's/early 90's.

If we ask, it is because guidelines require we have it for an approval. 

Aug 04, 2011 06:52 AM
Victor Zuniga
Berkshire Hathaway Home Services California Properties - San Diego, CA

It does seem that banks want your first born along with documents that really have no relevance in the transaction.

Aug 04, 2011 07:30 AM
Ed Gillespie
WealthWise Mortgage Planning, a Division of American Pacific Mortgage Corporation NMLS #1850 - Folsom, CA

How true, Elizabeth!  I try my best not to ask for anything unnecessary, but there are still a ton of things to provide nonetheless!

Aug 04, 2011 09:04 AM

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