Lead where they will follow!

It is not the job of Realtors and Agents to do the job of the loan officer, but, it is the job of Realtors to guide your clients to what is best for their home purchase. Is it best for your future home buyers to get their loans though one of the nation leading banks? What are the options to the red tape and deal killer feet dragging?

According to RealtyTrac Inc. one in 45 homes was foreclosed last year, this is one of the highest percentages of home foreclosure in recent years. What this means for this year is that if you are in one of the States that were very active during the boom years is 2011 will produce one home in five will be repossessed.

What this means is that much of the energy that banks use to lend money for home loans is being tied up with the bank foreclosure red tape. A home buyer this year will not only be facing the lowest home prices and interest rates, but the toughest lending requirements in years.

We come back to the economy as a whole; jobs need to be created in order for home buyers to feel comfortable with home purchase in a buyer oriented world. What about all of the folks that had to move to a new job in order to continue with income to provide for their families? Most lending rules for most mortgage banks will not consider these people for a loan unless they have been at the new job for two years or more.

If buyers, no matter first time or move up, cant participate in the current market, then what do the banks place their energy into? The answer is probably to continue with the foreclosure portion of their business. Most of the banks do not look into the lending habits or credit scores of the potential buyers unless it is for a tie breaker as to weather they get the loan or not. They don’t take individual history as a good thing.


Our goal as Real Estate professionals is to provide the best service that we can for our clients, which means that you shop around for mortgage loans. Investigate the mortgage brokers as well as the banks and credit unions. Give your clients the best job and do the work.