Ethics is a huge problem today. One of the major reasons for the downfall of our economy is based on greed and bad ethical judgements. Greed based on personal gain from not being honest with your clients. In the world of mortgages it is easy to deceive to move a client forward but this will come back to haunt the person hopefully.
I believe in treating every client the same as I would treat my mother. Straight Answers with both sides of the coin shown. Risk is discussed and the decision is up to the client in the end. From this approach I have lost business because I was straight up with the client -- I would rather not do business than not have laid it all on the table.
Appraised value is a big concern right now. I discuss the pros and cons with clients about the risk of the appraisal process in the current declining market. Some appreciate knowing the ups and downs others only want to hear it will be "ok". I can't tell everyone it will be "ok" so they go to the person that gives them the warm fuzzy feeling -- some close others get burned. My clients know the risks and accept them -- they know the potential downfall up front.
As an originator my job is to give you the good bad and ugly -- not that 2 out of 3 items in that list are negative. I am not a pessimistic person but this is your home and life we are talking about lets make sure it is a good deal for you.
If you would like honesty as the best policy give me a call or contact me via my website at: http://www.new-hampshire-home-mortgage.com
Thursday, June 4, 2009
Wednesday, June 3, 2009
Commitment
What is Commitment... not on a personal level but for your purchase?
Commitment is when the bank/lender has said yes and all conditions have been satisfied. This is when you know you have the loan... but don't completely relax.
The lender has the right to check your credit, income, assets, and employment status up to and including the day of closing!
As we tell all of our clients -- Don't Buy and Don't Apply. Buying items on credit cards can change your credit score... or applying for new debt. Whatever you want to buy for your new home will still be there AFTER you close!
For more home buying tips contact me via my website at: http://www.new-hampshire-home=mortgage.com
Commitment is when the bank/lender has said yes and all conditions have been satisfied. This is when you know you have the loan... but don't completely relax.
The lender has the right to check your credit, income, assets, and employment status up to and including the day of closing!
As we tell all of our clients -- Don't Buy and Don't Apply. Buying items on credit cards can change your credit score... or applying for new debt. Whatever you want to buy for your new home will still be there AFTER you close!
For more home buying tips contact me via my website at: http://www.new-hampshire-home=mortgage.com
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