I was taking a mortgage application today and during the process the client mentioned that he read an article about how much easier it was to get a mortgage these days compared to a year ago.
Stunned, I asked where he read the article and he shared the info with me. Sure enough, the article spoke about how much easier it is to get a mortgage right now. I took a few minutes away from the application and wanted to know who this guy was. A brief description described him as an economist, the perfect person to talk about mortgages being easier to attain.
Here is my advice to anyone that doesn’t deal with mortgages day in and day out, “Just shut up”, as they just don’t have a clue. I wish they would stick to predicting the weather.
Find out what's happening in Manchesterwith free, real-time updates from Patch.
Unfortunately folks like my client, read something like this article and all of a sudden they think it is gospel. Fortunately for my client his loan is an easy one to do, but others won’t be so fortunate and these loans will take much longer to close or might not be able to get done at all.
