Melissa's Maddening Mortgage Mayhem - Ten Commandments

By
Mortgage and Lending with Hunt-Miller Insurance Agency

I      Thou shalt not quit job in the middle of mortgage approval.

II     Thou shalt not file bankruptcy in the middle of mortgage approval.

III    Thou shalt not buy furniture or new car or boat or RV or run up credit cards in the middle of mortgage approval thus retaining funds needed to close.

IV     Thou shalt not deposit a large unsourced amount of money into accounts in the middle of mortgage approval.

V      Thou shalt not make monetary or repair demands at the closing table.

VI     Thou shalt not stop paying present mortgage payments or rent or other obligations in the middle of approval.

VII    Thou shalt not write on or scratch out or cut and paste your asset or income information.

VIII   Thou shalt not pull closing money from an account that was not disclosed on application at the closing table.

IX      Thou shalt not refuse to provide documentation requested and demand to meet closing date.

X       Thou shalt not omit, add, or exaggerate on initial application for mortgage.

-----------------------------------------------------------------------------------------------------------------------

The above although quite obvious to most of us, happens quite frequently - or more frequently than I would like to think is humanly possible.  I have personally experienced 9 of the 10.  Guess which one I haven't seen?  How many have you experienced - a closing jammed up by "maddening mortgage mayhem"?

Comments (9)

Bryan Flynn
Regency Mortgage Corporation - Worcester, MA
Central Mass and Worcester Mortgages

it is a tough mortgage market.....good advice those for buyers, some buyers who lie think they won't get caught....and make us/me look like an inexperienced unprofessional officer.

 

 

Jun 04, 2008 12:51 PM
David M. Childress
Howard Hanna Real Estate Services - Akron, OH
I would love to be your Realtor® in Akron Ohio!

This post is awesome! I, with your permission ,will make this a poster for my office!

Jun 04, 2008 12:55 PM
Kirk Westervelt
Van West Realty - Greenville, SC Realtor -Short Sale Expert! - Greenville, SC
Kirk Westervelt, Broker In Charge, Van West Realty - CDPE - Short Sale Agent - Home for Sale - Greenville, Simpsonvil...

Hello,

I would like to welcome you to Active Rain!

I hope to see more of your blogs in the future!

Educate us, learn from others and don't forget to have a little fun while you're at it!

Take care!

Jun 04, 2008 01:06 PM
Joel Bennett
Long & Foster Real Estate Inc. - Columbia, MD
The Joel Bennett Group

Great Post.  Sounds like someone has had a deal in trouble or not go before.  These are great for buyers in these unsure mortgage times

Jun 04, 2008 01:11 PM
Bill Kennedy
Keller Williams Realty - Greenville, SC
Homes For Sale Greenville SC

Welcome to Active Rain.  This is a great community for learning, as well as sharing.  Go check out some blogs, join some groups, and enjoy... just be careful... it's ADDICTIVE!

I look forward to reading some of your future posts.

Jun 04, 2008 01:45 PM
Melissa Cochran
Hunt-Miller Insurance Agency - Macon, GA

David, you may absolutely blow it up as a poster.  I give it as a hand out, while I'm doling out applications and authorizations.  I just don't like the "well you didn't tell me thats".... which always seems to follow the mayhem.

Kirk, I'm in Georgia now... but for a spell I was there in Greenville, SC.  I grew up in Batesburg, SC (SW of Columbia).  Thank you for your kind welcome.

Joel & Teresa - you are so right, we definately don't won't to lose any business over being uninformed...it is hard enough to come by.

Bryan...no one likes to feel like an idiot.  Isn't it funny how liars end up being the biggest cryers?  Hmmm maybe I should write a poem?

Thank you all for the wonderful response to my VERY FIRST BLOG on my VERY FIRST DAY.  I really think this is going to be so much FUN !!!

Jun 04, 2008 01:47 PM
Ruskin Shipp
Macon Mortgage - Macon, GA

excellent. great advice

Jun 04, 2008 02:50 PM
Eleanor Thorne
Equity Resources - Cary, NC
Equity Resources 919-649-5058

This is really really cute!  You should have buyers sign it!

Jun 17, 2008 01:59 AM
Melissa Cochran
Hunt-Miller Insurance Agency - Macon, GA

Dear Ms. Thorne... YOU ARE SO RIGHT... I may have to add it to my other 37 state required application disclosures...   : )

Jun 17, 2008 02:34 AM