Re: Ed, holding mortgage question… - Posted by Ed Garcia
Posted by Ed Garcia on July 01, 2003 at 09:52:09:
Surly a broker who takes 6 months don?t sound very creative to me.
You started with him in January and today is July 1st.
I think your Mortgage Broker is having problems in performing and so he?s stalling you.
If he stalls you another 6 months, you?ll have enough seasoning to go to any broker in town.
Also as you say, he changed his story. At first he wanted to do the re-fi on the triplex and then he changed his mind and wanted to do the 3 purchases.
Liliana, you don?t tell us what state that you?re in but there is no doubt that you need to get a backup.
You should have gotten a second opinion or have had another broker working the deal or part of the deal simultaneously.
I think that it?s wonderful when a customer is loyal to a broker because they have preformed and have proven themselves in the past, however when that broker fails to perform then that leaves you no alternative then to shop the deal.
You have given the broker enough rope to hang himself and that?s exactly what he has done in my opinion.
A creative broker who doesn?t perform is not as good as an uncreative broker who does.