Six years and countless Continue Education Classes be it New Orleans and/or Jackson, MS that I taught and presented for Real Estate Agents, Appraisers along with a variety of presentations for Hospitals, Non-Profits, and For-Profit Organizations FHA203k Renovation Mortgages still does not stick in the minds of most of my colleagues. It reminds me of a what I normally have to deal with at work. In the world of getting a home mortgage the devil is in the details. Not only do we send out reminder emails reminding clients on what financial information we need or still missing, but we remind them via phone call, we text them, and we even send out additional reminder emails. Which all of them get read. But when we come up short of some of our financial conditions I ask the client, “John or Jan we have made attempts to advise you of the time sensitivity of these necessary financial conditions to send back to our office and you acknowledged you are aware that we need this and yet we are still short of these conditions!” I continue to ask, “Is there anything else I can do to help you meet these conditions?” The client responds, “I heard you and with all the work and kids activities I guess I just wasn’t listening!” Now that is an honest answer for which honesty pays dividends and I like it when the truth is delivered. But that still does not help me meet my conditions to close no a mortgage loan.
Now the reality is this, buying a house is like Eating An Elephant, which can only be accomplished one bite at a time. The complications to buy a home under a heavy regulated environment that we all are indebted too just to get qualified for a mortgage much less the acronyms that we use are completely greek to most clients. Also to mention the deadline issues that we operate under and the necessary paperwork/financial information we require are not what most Americans in a any normal fashion are used to on a daily basis. So maybe my expectations are set to high? Maybe our Governments expectations are set to high? Or just maybe we should simplify the process to get qualified for a mortgage in simple cornbread language approach/delivery opposed to that bankers language that we get accustomed too, so that eating that elephant can be an easily digestive with small bites.
So back to my FHA203k Mortgage Information dilemma! How better can I get more Real Estate Agents to completely and holistically understand the relevance of this program? Or is it time for a different delivery? I know something is wrong when the Real Estate Agent I just spent 3 hours teaching CE too consistently calls me Bob when my name is Bo and refers to the Renovation Mortgage as a Y2k Loan and not a FHA203k. Now I know why consumers are confused when they are referred to me by their Real Estate Agent asking only to ask me to tell them more about this Y2K Loan or The Bob Loan. Maybe too those Real Estate Agents HEARD ME but WERE NOT Listening! Back to the drawing board I go!