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Three Questions You Must Ask Your Loan Officer
Bad Credit Credit Creditres By Carey Pott
are often close to impossible to get. Banks ask all sorts of questions, run in depth credit checks and inquire as to the reason for your application before even considering you for bad credit loans. Most credit cards companies dont offer bad credit loans even though they are often the reason that people need bad credit loans. Seem like an impossible situation Well if you are looking for bad credit loans and have not had luck so far, you are in luck. My Payday Loan is an established and reputable company that offers bad credit loans without a credit check and without asking all sorts of uncomfortable questions.
Bad Consolidation Credit Debt It's pretty easy to isolate the good from the bad in a lot of professions: a dentist laughing gleefully every time you flinch, a plumber demanding payment up front while your knees disappear underwater, a real estate agent who never returns your call or is constantly dragging you to inappropriate houses. You wouldn't let any of these hang around long enough to do any real damage.
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Bad Company Credit Repair A loan officer is a little bit harder to quantify, largely because the bad ones often don't show their true colors until late in the house-buying process.
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Bad Card Credit Credit Still, you may gather a few clues from thoughtful interviews of any you are considering. Yes, you should interview a loan officer (or a real estate agent, for that matter) just as you would any potential employee or contractor. This person will be every bit as important to you over the next few months as your secretary, babysitter, or auto mechanic.
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Bad Car Credit Loan Without further ado, here are the three questions you MUST ask:
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Bad Credit Loan Mortgage 1) What hours are you available?
Auto Bad Credit Loan The right answer to this question is "Whenever you need me". Real estate takes place during weekends and evenings and you may well need to get hold of your mortgage person at some very awkward times. Your loan officer will be ungrudgingly available to fax you a revised preapproval letter or answer questions even if it is the Fourth of July.
Bad Credit Mortgage Refinance Most of the time a good loan officer will be able to keep you up to date with what's going on and answer your questions during normal work hours. Most importantly, a good loan officer will always make themselves available when you're signing the loan documents. This is the most critical point of the loan and the time when you're most likely to have questions, so they NEED to be available while you're signing.
Bad Credit Refinance 2) How do I reach you outside of office hours?
Bad Credit Mortgage Second A good loan officer will give out his/her cell, home phone, or beeper numbers for emergency use. There is a responsibility on your part to not abuse this access. If you are making an offer, 7 PM on a Sunday is not too late for a call, but 9 PM probably is.
Bad Credit Loan Student As we mentioned above, a good loan officer will make himself available for you whenever you need him and will make sure he's available at all times. Being a loan officer is somewhat similar to being a doctor - if you do your job right, you can get everything done during normal working hours. However, if emergencies come up or a patient desperately needs you, you need to make sure they know where to find you.
Bad Card Credit 3) Do you have coverage for times when you are not available?
Bad Credit Financing Everybody needs a break and busy loan officers usually have reciprocal coverage agreements with like-minded colleagues. Make sure you have those phone numbers and instructions for when they should be used.
Bad Credit Home Loan Mortgage A good loan officer will make sure you know well in advance that he's going to be away for a certain period of time and that you will be covered while he's gone. They will typically try to time things so that none of the really important items come up while they're gone and will have one of their trusted coworkers cover for them while they're gone. No one will know your situation as well as your loan officer, but try to be patient while they enjoy some well-deserved time off.
Bad Credit Loan People Some Final Thoughts:
Bad Card Credit Credit People More than anything else, try to use common sense when picking a loan officer. If someone starts giving you rates right away on a 30-year fixed loan, without asking any questions about your situation, there's something missing. They should be able to get a good idea of your situation and have you answer the questions they need to know in 10-15 minutes, then give you a good idea of how they can help.
Bad Credit Guaranteed Loan Particularly in the case of refinancing, the loan officer should ask what you are trying to accomplish and help you figure out the best way to accomplish that. Only when he has these answers can he guide you to the most appropriate products or even advise you that perhaps now isn't the time.
Catalogue: Finance | Loans
Title: Three Questions You Must Ask Your Loan Officer By: articleprobe
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