Colorado Springs Mortgages | Phenomenal Mortgages
This is Steve: Currington. Com in the Steven Tyler Show episode number 171 current temp. Com and Tyler wire negotiated a realtor everything you need to know about mortgages. It’S like these get ready because here’s Steve what is happening. It’S Steve, careington.com broadcasting, live from the koala Studios. Today, continue our series on the do’s and don’ts of the word. Processing were talking about taking unpaid, I’m off, while you’re trying to get it till some mortgage, and I’m here with Eric Shuff High business coach extraordinaire from drive 1500 replacing Tyler for the day, as well as rubber, tread most planted a seed of his own life and Reap the double Harvest Church up and I actually I think that Roberts trying to say is that you are you guys, Colorado Springs Mortgages Tyler’s, kids, I think he’s trying to say we have to do with your brother he’s the man. If you miss the man, you guys are twice the man. Tyler is your twice the man. So listen guys welcome to podcast, I hope you’re listening in podcast. I know if you want to know total interview, do’s and don’ts, so at total lending Concepts we provide every client a form, that’s in their initial loan package. That says: do this? Don’T do this so we’re just going to key in on this podcast on one of the big don’t which we said was just remember, Robert. Yes, what was the dope I’m almost out of our most recent, so I know what to talk about. When is the best time for a loan officer to have a conversation, these conversations he hears a do’s and don’ts with a potential customer with the client at the one. Someone is qualified and you’re, giving them their pre-approval letter and you’re sending them out to go. Find a house once you’ve made that first Contact, because it’s my opinion that once you’ve made that first Contact, you are now responsible, cuz, your professional right, and so it’s just like. If you went to the doctor – and he found out that you had cancer and you were getting cancer because you were smoking cigarettes that the doctor would not be doing his job, Colorado Springs Mortgages if he didn’t say bro, you have to stop smoking. Cigarettes like your doctor would be doing not doing his job, but he was just like yeah man that you had cancer, but hey man just keep living your life just so once you’ve made that contact with the client once you have brought them in your preparing them. I am there going to be there till some mortgage lender. This is an ally happening thing. This is when you would lay down the rules and here’s what the rules are. It’S the I want you to have less pain and so therefore do not do these things. One of them is taking a bun paid time off at a really good story about someone Robert who took time off and then ended up not being able to buy house because you destroyed Steve music. Colorado Springs Mortgages Do we have to wear Thomas to music? I have something on here., This Prince the revolution on the TLC Story, so here’s this guy took off a bunch of time he took off because he was going for his inspections and then he had to meet this guy.
For that he had to go so I mean, I think he was just making reasons why he need to leave work. So there are two problems: here’s the number one problem that we run into a lot. People take off time off work and it’s not paid and you’re an hourly employee and you get paid 12 bucks an hour in your debt to income ratio based on your new mortgage payment and all your other debts is based on you making an hour 40 hours. A week, okay and I have to get pay stubs from you, the most recent ones, and now now that you’re in contract that last 4 weeks 3 weeks before we close, I get a pay stub. It says you only work 32 hours will you took Monday off. Looks like you, Colorado Springs Mortgages don’t have vacation or anything. So now I have one paycheck. This is 40 hours. I want to 6:30 to have another one says 40, and then I have another one, maybe 6:38, and now your average hours 34 oral or they just are 31st. And now I’m trying to qualify you on an hour times an average of 36 hours a week. And if your borderline on debt ratio Estudillo in this guy’s case, what happened you supposed to close on a Friday – and this is a lesson to sellers by the way the seller was like. I just know why I can’t be bothered to close on a Friday week. You know it’s a holiday weekend. It was good, what’s the weather like Memorial Day or something and they’re going to close on Tuesday, so they came in on Tuesday and they came in about noon. The closed dispersed checks, everything was good and then we got the verification. Point back from the guys in poor cuz, we called left a message: didn’t call back until like 1, you know they said he’s more important because they laid him off on Friday, cuz. He took off Friday. I think he was going to close and said he was going to work just took off Friday. They laid him off on Friday and he knew that he got laid off on Friday. But again we find out everything right, yeah, that’s what I’m learning. I guess what happened. Colorado Springs Mortgages Was he now committed mortgage front because he said he had a job? Please sign the loan application and it says in the big long paragraph on page hortas bunch of different stuff, but one of them is that my income and or job or anything related to Mike off kitchen has it change and if so I’ll disclose it to you. So we did it. Colorado Springs Mortgages I did three days before that and he knew that he lost his job. What you said that they close Tuesday Friday Friday. He said he take a Friday off. He didn’t show up to work cuz. I thought he was closing. Probably was closing Friday and then the seller couldn’t close. So he was so you really just skip work, but the problem was he had to work apparently 3 or 4 times over, like a 3 week, week.
Or 4 repaired wise close on this house and then player was like clip. He was gone, and so he was even at work on Friday and they laid him off and I guess he talk to his boss or went in on Tuesday morning or whatever happened and they’re like you got fired Friday and he thought. What am I supposed to? Do I was just close at noon on the house. He just showed up sign everything, so I had to call this guy and say: hey buddy love you, but if you sign all these documents and the seller has taken the funds and you technically closed and you have committed mortgage fraud and I have no choice but To report that and prosecute you, because we don’t like a big deal, we’ll know cuz we’re alone. Colorado Springs Mortgages We can’t sell because we just closed on a guy that doesn’t have a job right like we have no verifiable income to be able to qualify. So I said the best thing you can do is get on the phone with the real estate agent and get on the phone with the seller’s agent and see if the seller will agree to bring the funds back in like undo the closing. That’S what I would imagine is take all that back right now, yeah and it worked out in his case. It worked out because they ended up., I’m sure the seller wasn’t happy, but they ended up doing that. He ended up not closing and not by now, because of that. Now that is an extreme situation where a guy not only didn’t end up getting close on his house, but also put himself in a very, very bad position, because he he signed a a lot of loan documents that they get you about 19 times. It say things like you’re going to live in it as your primary residence. It’S not a rental, and none of the information on your loan application is changing. If it has you’ll tell us – and he didn’t so – it just put him in a position where what are the legal consequences of the you go to jail. It’S like the federal FBI, serious serious, because you’re literally that loan application is called at 10:03. It’S like a government form. Colorado Springs Mortgages It says that your your attesting to the information that’s on there and saying that it’s accurate who’s, not in the house but in the house, so we want to. As we talked about the previous podcast, we want to not have pain. We want to prevent you from having pain, and this is a point of pain. If you take too much time off work and something bad happens like you get fired from your job, which were using to get you qualified, it’s probably not a good good that now, after your closing on your house, if you want to take a bunch of time Off work to move in and your boss fires you, I don’t really care, not your clothes, so you aren’t in a position. We had a lie and go get another job, but if that same situation happened to Robert, when I’m like, like we talked about the guy that went to Ruby Tuesday, it’s typically a weight, and so imagine if you’re, the seller, trip and you’re expecting to close on The 15th of May – and you get a call 5 days before that says that the buyer got a new job, and now we had to be on that job for 30 days or get a 30-day Pace up what you might be 5 weeks before we can close. I am not happy at this. We know cuz you’re, like you, probably bought another house movie, Colorado Springs Mortgages you’re, probably closing on that. You have all these wheels in motion and by the way this is what happens. The person that you’re buying a house from also is buy another house. They also need to sell their house to buy their own house we’ve had that happen where there are nine transactions attached to this one that has the clothes it’s in everybody’s mad.
So so I’m just suggesting that maybe just like we talked about in our previous podcast about making your payments on time go to work, people like and listen. If you have a good mortgage guy, you shouldn’t have to take off work. We can do everything digital. We have we have ways that you can upload documents. You have to drive across town call me if you’re, like not tacky, and you just have a pilot documents. I’Ll come get them from you, but I told clients that do not take off work. Just tell me where you’re at I’ll come get them drop them off. We got a mail slot on the front door drive home at 5 in the morning on the weekend or whatever, but do not take off work, because it’s almost like people finding an excuse to take off work. Colorado Springs Mortgages Robert because they’re like excited about the home-buying process or excited you’re, going to find yourself in a spot where you’re excited to container at a job right now he comes in Tuesday. Did he realize that the situation with him sinus he realize he was committing a federal 3 call, doesn’t keep it was kind of like I didn’t see the speed limit sign. You know my point is this industry? Is this TLC specific? Well, I sure she does still see specific, but a lot of this is Robert. If I seen a lot of it is industry, why don’t you? Because it just is – is good practice. I think you would be able to find it. I think you guys make it convenient sheet, that’s very helpful and easy, so someone isn’t having to read through thousands of words of contract, but I think a lot of information is in each contract, which makes it fraud. If you sign something downstairs, not a document. You just have to sign it’s just a good idea, and so, Colorado Springs Mortgages if you go to Google just type in mortgage do’s and don’t you can find there’s a hundred thousand people that have put resources out there on the do’s and don’ts of Horses by Steve, Arrington. Or Just come Steve if you go to Google you’ll probably find me anyway: broadcasting live from the koala studios in Tulsa, Oklahoma, you’re. Listening to the Steven Tyler show