Monday, April 11, 2011

Setting realistic goals

I think it always smart to manage expectations from the very beginning as I think it will make life easier for everyone involved.  The mortgage process might be filled with ups and downs but an expectation of just that will alleviate some of the stress.  Some of these will may you laugh and are a little tongue in cheek, but you will understand and laugh because you know they are true.  Here are some examples of the things I say.  Maybe you can use them too:

1.  "Be prepared that I will ask things of you that might not make sense.  To all the rest of us, it doesn't, but to the bank it does."

2.  "If you read the Good Faith Estimate and the bank commitment letter cover to cover and believe every word as gospel, you will be driven insane".

3.  "You will receive disclosures in the mail from the bank shortly after they receive your file.  Don't read them and file them away, never to be read".

4.  "Realize that once we are ready to close, it may take some time to get the closing scheduled.  When managing agents, attorneys, buyers, sellers and brokers are involved, its like trying to coordinate a wedding".

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