Help Buyers get Good Advice

Dean, I think the current market and economic situation will create many long-term changes in the way we conduct business. While past recessions have done little to cause change, the depth of this one and the accompanying agony should cause us to change many of the aspects of our business, most of which, I hope will be to our long term benefit.  Ultimately, though, I think the responsibility lies with the buyer.  It's probably unrealistic to expect others, especially those with a vested interest, to speak up when it may cost them a sale.

Good idea. I use a couple people in-town here that are retired financial planners. They provide unbiased opinions and planning for a very reasonable cost. It seems to workout very well.

Dean, I have been in the Mortgage Biz for a long time. I never stopped qualifying buyers/borrowers. We just changed the way we quailified people.  Most people I know that are true professionals in the industry did this as well. It was mostly the people in the busines for the quick buck that screwed it up. Never asking "would you be comfortable with that payment" Or the Brilliant minds that put fixed income people into options arms. 

there were no such thing as bad mortgages, just the wrong mortgage for the wrong person.  It is not rocket science... it is about our clients: NOT about our pay checks.

I may add, that I did say "no" to a few and lost some business along the way. But my reputation is solid, and I am still in the business after 20+ years, and most importantly, I can sleep at night knowing I did the righ thing.

I think good, sound advice. I think one of the inherient problems with capitalism (although the best system) is that is based on everyone maximizing their financial opportunities --- which doesn't always reward looking out for the other person in the short run.