weiss colorFrom the Desk of Mike Weiss:

(314) 323-0198 – michael.weiss@upperendproperties.com

So many delays and issues are occurring in today’s lending culture. The never-ending trail of documentation feels like you will never give them enough information to approve your loan. It is so important to use a reputable lender and not the flash in the pan guy that your cousin used, who gave him a deal that was actually too good to be true.

It is important to stay in contact with these guys to make sure you are not getting stuffed at the bottom of a pile of loans. Suddenly, loan commitment is done and they realize they don’t have the file ready to be approved.

The next thing you know, you’re calling the movers and begging them to change your date to move, while the title company is recalculating the settlement statement, and the house your seller is supposed to buy is adversely affected as well.

With the changes in lending requirements occurring faster than lenders can keep up with, make sure you give yourself ample time to get loan commitment, and stay on them!

Most of all, if it is not local and reputable STEER CLEAR!

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