Jason Sardi, Mortgage Banker

I don't know how to word this right, so I'll just word it.

Communication cares.

The biggest gripe I've ever had with Real Estate, Sales, Relationships, or anything for that matter seems a simple concept. So, why is it so damn complicated to get a answer, let alone a straight one?

It boggles my mind and I haven't touched LSD since 1992. Now THAT, boggled my freaking mind.

Call me a sailor, call me a sport, but of all our duties in this Industry (running numbers, selling deals, working on commission, kissing babies, and taking blood samples) why is Communication so hard? No, I mean it.

Many will practice the philosophy of only returning certain calls because they (those calls) afford certain accommodations. I respect that business philosophy in as much as I won't punch them in the skull when meeting their greed-ridden ass in the back alley behind a fine dining restauraunt. Or maybe they owe someone money, in which case, I won't go Rocky on them ... cite first Rocky Film.

Call people back folks! Christ, I'm not one for lectures and I certainly am not Joel Osteen, but that seems to be a no-brainer as defined.

I had a dream a few days ago that everyone was competent, caring, and considerate. When I awoke in a cold sweat, with a tear driven to my cheek and a smirk delivered dangerously towards my right temple, I looked out the window and saw a bird take a flying dump on my garage. It reminded me of something... none of us are any different.

You can wave your financial earnings, fame status, sexual promiscuity, and new set of Cutco knives all you want, but the only thing it really gets you ... is something it won't.

For the most part, I like people. I call them back, whether it's good news or bad ... or neither.

Communication cares. Of all my faults, that's not one of them.

If you've read this far, you deserve some blues...

A young gentlemen was pre-approved. While a small loan, it is significant for him since it is the very first house he has ever bought. The closing date is on the back end of November's Ides...

The supporting documentation was collected and the appraisal was ordered, yet over the weekend, he spoke to the Family Attorney. Mr. Attorney recommended that he shop around. Alas, the chap was "approved" at a local bank at an interest rate that was about a half percent lower than we quoted. So, he went that way.

Days later, meaning today, it so happens that the local bank turned him down. While getting into specifics may be a bad thing, they low-balled a legitamate rate they could offer him and their debt ratio requirements are tighter than an amateur porn star's balloon knot. (No, you didn't just write that. Yup, I did.) They turned him down.

So, we are starting over to an extent. The appraisal must be re-ordered and now we can actually send the file to Underwriting.

I'm a champion of folks shopping around, just not so late in the game.

The next time you shop, try the Family Attorney.

Easy answer, 60 days. But I guess that depends on what kind of Pre-Approval you received or want for that matter. Actually, the answer to such a question depends upon three factors:

- You, as the consumer.

- The Buyer's Agent who is helping you find a home.

- And the quality of the Pre-Approval you receive in the first place.

Ten Seconds, GO - You're interested in buying a home. You even find a few that tickle your family bone. But you need financing because you probably don't have the cash to buy it outright. Which leads to...

Nine Seconds - You're smart and seek out a Buyer's Agent to represent you. This will provide protection in your favor. They represent you and only you.

Eight Seconds - That agent may turn you onto a few folks like me who can help you out from the financing end. And that doesn't mean you shouldn't shop on your own. But buying a home isn't just about getting the lowest rate with no fees (an oxymoron if I've ever encountered one), it's about trust. Interview those who express interest in earning your business and keeping it. If they have the lowest rate with no fees, I can only hope they are in business when you need to do business again.

Seven Seconds- The Pre-Approval is more than just an application and credit check. There's some serious competency going on. They ask for your most recent pay-stubs, W-2's, bank statements, and the last time you had a wet dream about Richard Gere.

Six Seconds - You find a house that you want to call home and a Sales Agreement has been signed and accepted by all parties. And there you are.

Five Seconds- You're hopefully just padding the documentation that you've already given to the Mortgage Company you choose. I recommend Sardi Mortgage Inc, who isn't licensed just yet ... but when you hear Sardi, that should mean something. I'm not sure what, but it means something. Maybe it just means that there is an individual who is all over your particular file like white on puss.

Four Seconds - Appraisal is ordered and done. The rest of your file is pretty complete because everyone got along and did what needed to be done.

Three Seconds - The complete transaction goes into Underwriting, those dastardly folks we think of who hate closing loans. I'll give you a bit of info here, and I usually don't stick up for Underwriters. They only get paid when folks close loans. Without us, there is no them. So, that's that. In business, there's more to it than that, but that is a pretty accurate description.

Two Seconds - You are CLEAR TO CLOSE. If there were three words that were magical in this industry, those are they.

One Second Left - It's a proclamation of your destination. You hit home!

And when there's no time left, that's the perfect time to be imperfect. And that's the perfect way NOT to close.

Jason Sardi

Mortgage Consultant

610-653-0317

jsardi@ihmci.com

Tired of extending Sales Contracts?

Disgruntled because of bait and switch interest rate and fees?

Trepid because of the surprises that pop up like a flaring zit in your teenage years?

Fed up with never getting a phone call or email back in a timely manner?

We hear you here at Sardi Mortgage, Inc. Now, while Sardi Mortgage, Inc isn't an actual operation... it is an actual human being. I breathe air. I breathe smoke (I know should quit, Mom). And I breathe what's best for anyone who takes a chance on a guy like me.

Let me tell a story and I'll try to make it brief. I read too many posts bloviating about this and that and never really saying anything. I don't desire this to be one of them.

About two months ago I had a return customer come to me with a two-fold question. The first one dealt with wanting to refinance his loan into a shorter term and lower interest rate. The second was an inquiry about his friend who wanted to buy a home but wasn't quite prepared to do it in the there and now. I'd like to concentrate on the latter, since the former is now in the books.

His friend has great credit, solid & stable income, and a rental history (with copies of canceled checks - take note renters) that is pure gold. However, they are paycheck to paycheck kind of people right now. Now, I know nobody out there reading this can identify with such, but this was their stumbling block. Because of the area they wanted to buy in, they didn't qualify for the 100% USDA Loan. Because they never served in the Armed Forces, they didn't qualify for the 100% VA Loan. So they had to come up with a down payment.

Outside of the two products mentioned in the paragraph above, 3.5% is the lowest downpayment on the streets right now. It can even be gifted from a relative. But this guy doesn't have a relative with the capacity to help him with such matters. So, he had to save it up along his way. And along his way, he was surrounded by many people who were also dealing with buying a home, refinancing a home, and inquiring about everything between. He got scared of the process and rightfully so.

I was asked a question that I'd never been asked in eight years of doing this gig. He asked me, "How can I be sure that my loan will really close? There seems to be so many horror stories out there, even if the loan does close. Can you promise me that I won't have to deal with that when I'm dealing with you?"

I had to pause at that point. Let's face it, I'm only as good as the company I work for and with. While I can do everything right on the front end, I DO have to rely on others to do the same on the back end... ensuring a smooth sail to the table where ink dries.

I answered his question. Do you want to take a guess as to how I answered it? Well, I told him I couldn't promise such things. I told him I can only promise ME and My Committment to anybody I deal with. It's a war out there. And I'm a soldier you can either hire or fire in these battles. Like a good car salesman, I should mention that I look dapper in fatigues. Like a bad car salesman, I rarely wear boots or underwear.

And it's reason #142 why I want to obtain the capital to start Sardi Mortgage, Inc. Common Sense Lending is an oxymoron these days. Oh, did I mention that the 'Inc.' doesn't stand for Incorporation, but Inclusion into the strange world of Common Sense Lending? Well, I just did.

• I loathe the HVCC - some prick from New York wanted to throw around his power and make this the rule of law. I'd take him to Judge Judy, but I'm way too busy watching Jerry Springer.
• 45 days to Settlement? Okay, that's fine. But two weeks in Underwriting is not. Especially if you are a small firm in the big picture. You either need more Underwriters or a better one.
• Regulate us all you want as to how much money we can make on a loan, just be prepared to do so consistently... and that includes your compensation, at whatever position you hold wielding such legislative powers.
• If you really want to look out for the consumer, protect them by teaching credit and home lending in their early years in High School.
• Well, there goes short and brief because I could go on for hours. Who knew??

I haven't yet been compensated by this blog. If you would like to provide such honors, email me and I will be sure to let you know where to send the eventual bounced check.

On that day that they question to hire me, watch out! Because if they don't, I will.

for the credits, click here:)

A faded bush did appear, thick in foliage to any seer. It won't quite disappear, that foliage that I no longer fear.

~Gunther Moses~

If you think buying a home can be scary, try renting a house. We hear stories daily on the obstacles present when buying and then closing on a home. The fact is that once you own it, you freaking own it. You own its troubles, its grace, its everything... for the most part, it's your place. But if you are renting it ...

There's a little story I'd like to share. The participants are Lee & Shannon. They rented their house for five years. During that time, their Landlord seemed difficult, if not totally obnoxious. If something went wrong with the house, phone calls went ignored and any communication from said party seemed obsolete. However, when the rent was due, that Landlord was always available. And 'he would get back to them in a few days' concerning any problems with the house. Of course that 'few days' turned into the next month when rent was due. Yet again, the rent would be paid and the landlord skated around handling any problem with the living conditions.

Patterns persist.

Leaky facets, clogged drains, faulty electrical outlets, and a lack of hot water were only minor areas of inconvenience. Luckily, Lee knew how to deal with most of that type of stuff. But when the basement was flooded by a particularly feeble bout of rain and phone call after email after phone call to the Landlord went unanswered, the floodgates of change called their name. When they got a letter from the Mortgage Company to start making their payments directly to them, that calling started to scream.

Home-ownership had been a dirty word to Lee & Shannon for quite sometime. They had been content with renting. Truth be told, they had owned one over 5 years back and were put into an adjustable rate mortgage at the time. While a nice option for some people, it didn't turn out that way for them. It happened to be a treatment for buying over their heads. Lee & Shannon got out and thankfully suffered no severe credit ramifications from the experience. But they did suffer a very bad taste of what owning a home is all about.

With their rental situation in limbo, they opened all doors to make sure a roof was above their head.

From this front, they found a Mortgage Guy and I forget his name... though I remember the last name rhymed with 'Party'. ;) They compared the cost to rent vs. the cost to own in the price range of their particular area and financial ability to afford such. Not surprisingly, the numbers weren't so different. In fact, with lower home prices and interest rates to write your Aunt Susie about, it turned out that buying a home would be a cheaper expedition... at least in regards to monthly payment. Sure, leaky facets, clogged drains, faulty electrical outlets, and a lack of hot water could become an issue down the road, yet a Home Inspection intertwined with Lee's ability to deal with such things left a better taste of what owning a home could become.

They closed on their home on November 30th, 2009.

Oh the glory, the romance of that day. A fear arrived and was dead upon display. It didn't take a smile, nor new-born tear, yet for the rest of the story... you may want to click here.

~Gunther Moses~