Written By: Tim Davis. Tim has been in the mortgage business since 1993 but since owning his own company since 2001 he has funded over $150 million in mortgage loans. He was the winner of the Great Ideas Contest 2006 with Loan Tool Box. More Information about Tim can be found at www.MortgageSpeakersBureau.com or view an online seminar by Tim entitled, "How to Answer the 9 Most Common Mortgage Questions".
Just to recap — in Part 2 - we provided stories for the following questions:
What does my credit score mean?
How long will it take to increase my credit score?
Do you think I’ll get approved for the loan?
This one will address the follow questions:
What happens after I apply for the loan?
Can you explain the appraisal report to me?
How long does it take to get my loan application approved?
OK! You’ve filled out the application. They have spilled their guts to you. Social security numbers. Ages of children. The messy divorce. The name of their dog.
Question: What happens after I apply for the loan?
Most of us might say, “Well, it may take a few days after we receive the documents and I’ll get back to you.” You know what happens. The minute they walk out of your office, they talk to their family and friends and ask THEM questions. The worst thing that could happen to you, if they don’t understand the process, is to get mortgage advice from their butcher.
I propose that there is a better way to explain the process in the form of a story.
They look at you and say, “What’s next?”
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