Temper the Frustration of the Mortgage Process

Finding your next home can be very easy compared to the process of getting of mortgage. Frustrating is the word people use most often when dealing with banks and large lenders, but the process can be difficult with smaller local banks as well. In fact, many buyers for condos and homes in Daytona Beach are paying cash or arranging private financing because of the mortgage process.

You or me are not going to change the way banks process and loan mortgages, but there are a few steps that we can take to make the process a little less frustrating. AGBeat published an article yesterday titled, “How to overcome frustration with mortgage lenders.” They made a few good points that could help a lot.

1. Watch out for the gatekeepers. These people will answer your questions even if they don’t know the right answer. These are customer service reps and assistants who don’t have the knowledge, but answer anyway. Try to talk to the loan officer to get the right answer.
2. Don’t call on Mondays. It’s the worst day to reach anyone at big banks. Call on a different day to save wait time.
3. Take names and contact information. Get the name and contact information for anyone who give you information, particularly information that is deadline related or that you need to act on.
4. Follow Up. If you don’t follow up, it’s likely that your loan will take much longer. This includes calling to be sure that the person requesting information received it. This means mail, fax and email messages and information.

One of our goals is to make the home buying process as easy as possible. This is why we don’t pressure our clients or require registration to search for homes and condos in the Daytona area. We will do everything we can do to help you through the buying process. Please give Lynn a call at 386-566-7505 or David at 386-566-4169 to discuss the area and the options available for your budget and lifestyle.