Mortgage Planner vs App taker
Do you know someone struggling with their mortgage or maybe that has lost their home to foreclosure? Life happens. Some people fall upon hardship such as loss of a job, sickness or death. Many American’s are currently losing their homes due to the fact that many aggressive lenders in the past place families into financial products referred to as “Toxic Mortgages.” Many people went on-line and obtained many of those mortgages that have them in trouble on their own without professional guidance.
It’s amazing to me how many people are attempting to navigate the complex world of mortgage products by themselves attempting to manage the one financial instrument, probably one of the larger financial instruments, if not the largest financial instrument in there lives’ without professional advice or guidance.
Hello my name is Helen Williams, Certified Mortgage Planning Specialist with Titan Funding Group of Eugene, OR.
Some people attempt to obtain a mortgage on their own without knowing the deceitful tactics deployed by many on-line mortgage providers.
Did you know that each bank or lending institution can decide what components or costs of obtaining a loan they can use in the calculations of the Annual Percentage Rate also referred to as the APR?
It is not a level playing field and the uninformed consumer doesn’t stand a chance of beating the banks at their game. It’s kind of like the casinos in Las Vegas, everything is designed for the house to win.
Prior to making a decision to refinance or obtain a new loan, the real question is what are your goals and what is your long term financial strategy?
An example of this is to determine if the property in question is a home to hold for the long haul, pay off and enjoy through retirement or is it a home that one is living in to accommodate a current life style?
The real key is customer service. Think about this. During the process of obtaining a real estate loan, several obstacles can appear along the way. Keep in mind, you’re communicating with the banks employee, who’s side do you really think they are on?
- An appraisal comes in low…
- verification of income documentation does not match the income stated on the loan application…
- a hick up on a credit report or an erroneously reported item appears on one’s credit report… many issues can occur during the process.
- Call center employees are not trained to fight for your valuation issues.
- Call center employees in call centers are not trained to review tax returns to find hidden opportunities to increase one’s borrowing power.
- Call center employees are not trained on how to address credit items to be disputed resulting in obtaining inferior financing when just a couple of adjustments in one’s credit structure, the borrower would have had a much better outcome.
Oh, and Good luck voicing your dissatisfaction to a voice mail box or emailing your unhappiness and waiting for a response.
You need an advocate during the process of obtaining financing, one that is willing to fight for you.
There is more to managing one’s mortgage than what meets the eye.
One of the processes I provide for my client is called a Total Cost Analysis. This is the process of taking 3 or 4 different loan scenarios side by side, extracting the information on a Good Faith Estimate to determine what is the true cost of the proposed loan and to make sure that the loans being considered fit into one’s long term financing strategy.
Prior to deciding on an overall financing strategy, beyond the property, we need to examine one’s overall financial picture including monthly cash flow, budgeting, the savings strategies, employment stability and so forth.
To be able to schedule a no obligation, exploratory conversation to determine if there is a better solution for you in the market and to make sure you have the right strategy, call me at 541-341-1400 x 3104. And be sure to ask about the complimentary quarterly service I provide my clients that I will extend to you as well although you might already be in the perfect plan, I will provide this service as though I did structure the current plan and provide you with updates and information to continue to improve your overall financial standing.
What do you have to lose? More importantly, what do you have to gain?
