Clearwater Florida Homes Condos Real Estate

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Mortgages in Tampa and Running with Scissors

Clearwater home buyers can take this one to the bank - Brian P Forrester knows mortgages...and I love the way he always give great advice. Here he shared how a recent buyer thought she knew more about mortgages than he did...all she did was come really close to losing the home of her dreams. In today's market you need a mortgage banker in Tampa Bay that does this full time all the time. So please "don't run with scissors" and don't try to do your lender's job...(besides, trust me, you DON'T want it).... 

I am fond of saying that as mortgage bankers in Tampa Bay we make mortgages, and that doesn't necessarily mean we make sense.

I serve as an intermediary between the home buyer and underwriters who hold the keys to the kingdom. Believe me, I know what they are looking for and I know how to be proactive and alert the buyer as to what the underwriter is going to want.

So basically, if I request something from a buyer it's not because I am just looking to add even more paper to an already bulging file. I just want to get that person to the closing table on schedule with the right mortgage product.

Case in point, a recent closing went way beyond the date that it should have because the borrower was pretty adamant that she knew more about mortgages than I do. And you know what? She didn't and maybe never will. And the irony is she had some complicated things about her file that could have made her ability to get a mortgage just that much more challenging. But by conducting a thorough initial assessment we were able to address any of those things before they became issues; because that's what we do.

The thing that held up the whole show was an undisclosed liability discovered when the credit report was pulled right before closing. Always in the Top Ten Things Not to Do Before You Close on Your Home, whatever happens in that time period between loan pre-approval and the subsequent underwriting process is not only fair game, it could kill your deal.

At the end of the day, don't run with scissors and don't ignore the mortgage professional. We managed to get this loan closed, but you're not going to dodge the Fannie Mae's of the world by thinking you can hide stuff because you know more than I do. Not when it comes to mortgages anyway...

Comment balloon 5 commentsCyndee Haydon • November 25 2010 03:40AM

Comments

Cyndee, it is great to see you here on ActiveRain this day of Thanksgiving. May the season be bountiful for you and your family. Cheers!

Posted by Tom Priester, Paradise Sharks (Paradise Sharks ) about 8 years ago

Happy Thanksgiving Cyndee

Posted by Kelowna Real Estate Lew MacDonald Realty Match (Facebook, Twitter, LinkedIn, YouTube) about 8 years ago

Excellent reblog Cyndee. As one of the top Clearwater Beach Short Sale Agents, the post you share to your readers are always a great read. Thanks for sharing this. 

Posted by Bob Hertzog, Designated Broker (Summit Home Consultants) over 7 years ago

Thanks for reblogging this Cyndee. Hiring someone experienced and knowledgeable of the job do have its advantages. Especially for homeowners, hiring experienced Clearwater Beach Short Sale Agents like Cyndee will give the expert advice that they need to know. Great reblog Cyndee!

Posted by Katerina Gasset, Get It Done For Me Virtual Services (Get It Done For Me Virtual Services ) about 7 years ago

Hi Cyndee another interesting blog here.You never fail to always share your knowledge with us.Stay being top notch Clear Beach Short Sale Agents.

Posted by Kim & Kristine Halverson, Realtors (www.LiveWorkSiliconBeach.com, Santa Monica Real Estate :) ) over 6 years ago

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