Look me in the eyes

The news has been filled with articles about the crisis in Sub-Prime lending industry. It is an unfortunate situation which should not have happened. Clearly there were some borrowers who were “qualified” for loans that they couldn’t handle. In some cases under more traditional lending guidelines they would not have been able to get a loan in the first place. In other cases they were “qualified” for loans based on a low interest rate that escalated quickly to a monthly payment that they could not afford.

I do feel badly for the innocent victims of this part of the industry. I do think that some of the homeowners now facing foreclosure didn’t have any idea what they were getting into. The mortgage brokers that they were working with, many of them internet lender’s, didn’t truly educate them on the potential consequences of the loans they were getting.

I think this crisis brings home the point why working with a good local Realtor® and lender is important. We provide more than just data for you to consider. We build relationships. We have to look at you eye to eye during a transaction. We can’t hide behind a computer or call center and hope that you don’t ask too many questions. Our job is to provide you the best advice that we can. Our code of ethics is quite clear about our responsibilities to our clients.

Article 1
“When representing a buyers, seller, landlord, tenant or other client as an agent, REALTORS® pledge themselves to protect and promote the interest of their client. This obligation to the client is primary, but it does not relieve REALTORS® of their obligation to treat all parties honestly. When serving a buyer, seller, landlord or tenant or other party in a non-agency capacity REALTORS® remain obligated to treat all parties honestly.”

So if you are looking for an agent and lenders who are willing to work with you and stand up and take responsibility then just give me a call. With my team you know that we will be there long after you have left the closing table.