The Santa Clarita Lenders bait and switch game

    If you have having trouble finding a lender, we can help:

    We had a couple of our clients come to us who wanted to be introduced to a great local lender. We did and they were happy.

    During our Paris911 at REMAX of Valencia orientation meeting, I informed our clients of some of the games that “some” lenders play.

    Not so much the local Santa Clarita Lenders, because they have a local office and can be met there after hours 🙂

    But those lenders that are a ways away. Some that are “internet based” only and those that are very difficult to have held accountable if they mess up things with their clients loan.

    Lending does not have to be hard, but when you are talking thousands of Dollars, sometimes temptation strikes in a bad way with the “non local” lenders.

    Back in the day, I remember some lenders charging way too much. Kind of like Realtors, charging way too much – exceeding 7% in some cases, locally – where the “a typical” total is not more than 6%. When you break that down from a realtor point of view – 3.0% is the listing agent's side and 3.0% is the selling agents side.

    Believe it or not, we used to call lenders on the carpet for Massive Fees and would explain why to our clients, it's great for the lender to make money, but no one has to be sacrificed at the alter of Fort Knox in order to do so.

    That is why we have always mandated that you speak with a realtor that knows the lending business. Realtors that, hopefully, have worked in lending before, or at least don't turn a blind eye to it saying it's not their job or concern.

    Lenders should do the same with regard to the real estate transaction. They should have a working knowledge of what it takes to be a Real Estate agent what what steps need to be taken to successfully close escrow.

    Have a listen to our latest Santa Clarita real estate radio show. Let us know if you need help with regard to real estate and don't forget to check our Paris911 Team video's on YouTube

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