When "NO" Doesn't Mean "NO" ... or at Least Not Forever

Reblogger Winston Heverly
Real Estate Broker/Owner with Winston Realty, Inc. BK63078915

Gene Mundt, shared this blog a couple of months ago that would be great to re-discover today. There are many useful ideas that can be used to further help guide your next real estate transaction. Use these suggestions as a starting point and customize further to your own specific situation. Thanks for sharing.

When "NO" Doesn't Mean "NO" ... or at Least Not Forever
     Do I have you thoroughly confused with my title?  If so, let me explain ...

      So many of my potential Mortgage Applicants mention thestatistics reported regarding their chances of successfully obtaining financing for a home purchase.  Add what's heard regarding today's actual Mortgage process (which is portrayed as pretty bad too) ... and I can find myself in front of some pretty scared people.  Especially true, if they're First-Time Home Buyers.

     It's hard to deny that the current process for obtaining Mortgage financing can be challenging.  I've addressed this fact many times in prior posts.  In those post I've firmly stated what I also believe to be a fact ... that WHO you choose to work with while pursuing your financing makes a world of difference in the outcome you find.  
     Simply:  If you, as a hopeful Home Buyer, don't take the time to do your homework ... or make the effort to find and work with an experienced and knowledgeable Mortgage Lender, you do yourself a huge disservice and severely lower the chances of your finding success.  At minimum, you end-up having fewer financing options and higher financing costs.
     But let's say that you did what I recommend above and you still received a "NO" on your Mortgage Application.  What then?
     This is where I say "NO" doesn't have to mean "NO" .. or at least mean "NO" forever ...  
     I've referred to the Mortgage process as a "recipe" of sorts in the past.  It's definitely true.  Specific Mortgage programs often have specific requirements.  That means as your Lender, I must supply specific information or "ingredients" to Underwriters to secure the perfect "recipe" for Mortgage Approval regarding that Mortgage program.  
     Should we receive a "NO" regarding that specific Mortgage program, it doesn't mean that we can't try another financing option for you.  A "NO" doesn't have to mean "NO" for every option you have at your disposal.  
    Again, this is where your choice of Mortgage Lender comes into play.  If you've chosen your Mortgage Lender wisely, you are more likely to have a menu of financing options available to you ... and their experience and exposure to challenging scenarios will greatly expand your opportunities and chances for success.   
     But okay, let's talk worst-case scenario.  You and I worked through every option you have available to you to this point  and we're still receiving that "NO".  It can happen.  And yes, it can mean that for the time-being you've hit a dead-end.  
     As your Mortgage Lender, I'll assess and then relate to you my advice as to how to best proceed.  If I'm aware of other  opportunities and options that exist for you elsewhere, I'll tell you that.  If credit issues are the problem and we need to work on them, we'll tackle that together.  If there are appraisal or home inspection issues, we'll tackle that too when and where we can.  In other words, we'll leave no stone unturned in order to turn that "NO" of today into a "YES" as quickly as possible.
     So it's true.  Not every "NO" is created equal.  There are those times When a "NO" Doesn't Mean "NO" ... or at Least Not Forever ...
     Much of thatis dictated by the choices you make as the future Home Buyer and Mortgage Applicant.  So take control.  Make wise choices.  And don't take "NO" for an answer!  Explore, discuss, and review all your options ...
     *  Hoping to Buy a Home or Refinance in a Lincoln-Way Community, Will County, or elsewhere in ChicagolandContact me today!  I'll put my 36 years of Mortgage experience and expertise hard to work on your behalf.
     I can be easily found at:
Direct:  815.524.2280
Cell or Text:  708.921.6331
eFax:  815.524.2281
Click HERE for a FREE Mortgage Consultation!
Ready to Apply for your Mortgage?

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Gene Mundt

Regional Manager - Mortgage Lender

American Portfolio Mortgage Corp.

                                                                    Personal NMLS #216987


NMLS # 175656


Gene Mundt, Mortgage Lender, a Lender with 36 years of mortgage experience, will offer you exemplary mortgage service and advice when seeking:  Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago and the greater Chicagoland region, including:  The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL.  Gene Mundt, Mortgage Lender can be contacted at:  815.524.2280 or via his email: gmundt@goapmc.com.

Contact Gene Mundt, Mortgage Lender soon!


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Tanya Van Blake-Coleman
Van Blake-Coleman Realty, St. Thomas/www.talk-to-Tanya.com - St Thomas, VI
Improving the Quality of Your Life

Great information. I have lenders I work with because they have a variety of products to offer as well as letting potential buyers know what they have to correct to turn that "no" into a "yes". Sometimes it has been as simple as clearing up a cell phone bill  or creating credit. Culturally, many people outside the U.S. see using credit as a very bad thing and have avoided it completely. It is hard to get substantial credit when you have never had it. So it is a building process.

Mar 17, 2014 11:55 PM #1
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Winston Heverly

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