Pinetop White Mountain Blog

Good Afternoon Everyone!

I thought I would share a quick tidbit of information with you this afternoon because I am fighting this very situation right now. 

If your Loan Officer isn't ready with answers and doing the things you need him/her to do, CHANGE LENDERS!

With all the changes in the Lending Industry these days there are simply a lot of Loan Officers that don't understand things like FHA & USDA Loans or the Loan Requirements.  They take an application, assure their clients that all is well, but in reality they have no idea what they are doing.  Instead of admitting that they don't know what they are doing they ignore phone calls, e-mails, requests for updates, etc.  A sure sign that this loan is not going to go through because the loan officer simply does not know what they are doing.

PULL YOUR FILE AND CALL SOMEONE ELSE!  BETTER YET  - ask your Agent to give you a list of the Tried & True that they have experience with who do know what they are doing and can get the job done.

There is nothing more frustrating for everyone involved in a Real Estate Transaction to get down to a couple of days before the sale is supposed to close, only to find out that the loan is either not ready or is not going to be approved.  The Seller is angry, the Buyer is angry, the Title Companies are frustrated because they are the ones the pressure is going to be on to determine the fate of the Earnest Money, Two Real Estate Professionals are crushed because they have got a lot of time and effort in to your transaction only to have it fall apart, all because of an incompetent Loan Officer who didn't understand what was going to be required for your loan and didn't give you good advice.

The Point is, if you have any doubts at all or if your agent has any doubts about your lender, move on!  All the paperwork can be transferred to a different institution and the first lender has no right to deny that information should you decide to make a change.  JUST DO IT! In the end, you and everyone else involved will be much happier.

Have a wonderful Weekend!

SANDRA & BRUCE PAULOW, REALTORS®

RE/MAX Pine Country Realty in Show Low, Arizona

(866) 537-9001 or (928) 242-0300