May 20 2011
Mortgage Forms to get More Consumer-Friendly / I say, “Well it’s about time!”
Having been selling real estate for about 10 years now– I’ve been through some ups and downs of this market and have of course seen how the lending side of this business really affected our most recent down turn. It went down farther than it has ever gone before! (at least in my 10 years!) One key factor is exactly that the mortgage side of this business is very ‘foreign’ to consumers. It’s way over complicated, the verbiage is another language and when consumers can get a loan online or by one short visit with a lender, that just doesn’t help matters.
Case in point–
I have a buyer client right now– a first time home buyer who is using his credit union for his mortgage. He is so confused by their documentation that he is calling and emailing me with concern or as he puts it “I am freaking out!” Just what does a lender think they are doing sending documents that make absolutely no sense to a home buyer, let alone a first time home buyer– in an email and saying, “I hope this clarifies your questions”.
What? I say, get on the phone and call your client! Talk them through it or better yet, suggest a meeting to review in person. First time home buyers don’t understand the lending process and certainly don’t understand the documents and all the numbers in them….
Click here to read more about this!
Geez….
Deb Goetz, Realtor®, GRN
Denver Boulder Colorado Realty
Partner, Director, Business Development & Marketing
c: 720-628-9502
e: deb@denverboulder.com








