Banks all over our nation--traditional and mortgage--are absolutely, entirely swamped right now. With the Federal Reserve recently lowering the interbank lending rate to nearly zero percent, everyone who has a mortgage is pressing for refinance. Everyone.
2003 was, I'm told, a big year for loan sales--and the current cycle (in the middle of what is typically a slow season) is going to eclipse 2003. It's shocking, and banks all over the land are calling people whom they just laid off, back to work. Managers are also recalling all of their regular employees, who were scheduled to be off for winter holidays.
Mortgage bankers in particular are extremely swamped with refi activity--and that means they need to please these repeat customers, even if it might mean cheesing off a new customer. If there's only time to return one phonecall, it will be to the homeowner who has already borrowed money over the past 16 years. Even family are getting ignored.
So, if you are being ignored by a banker, broker, credit union, or any other financial institution--please take it in stride. It's frustrating, but the cold shoulder is inadvertent. If you're being ignored by a real estate professional, then that means they're not the real estate professional for you. There's just no excuse--even during the holidays--for realtors not to hungrily, happily answer your call. Ditto, insurance agents, escrow houses, and title companies. If these folks aren't calling you back--seek out other help.
I hope 2009 is a wonderful, wonderful year for you Frank!
2003 was, I'm told, a big year for loan sales--and the current cycle (in the middle of what is typically a slow season) is going to eclipse 2003. It's shocking, and banks all over the land are calling people whom they just laid off, back to work. Managers are also recalling all of their regular employees, who were scheduled to be off for winter holidays.
Mortgage bankers in particular are extremely swamped with refi activity--and that means they need to please these repeat customers, even if it might mean cheesing off a new customer. If there's only time to return one phonecall, it will be to the homeowner who has already borrowed money over the past 16 years. Even family are getting ignored.
So, if you are being ignored by a banker, broker, credit union, or any other financial institution--please take it in stride. It's frustrating, but the cold shoulder is inadvertent. If you're being ignored by a real estate professional, then that means they're not the real estate professional for you. There's just no excuse--even during the holidays--for realtors not to hungrily, happily answer your call. Ditto, insurance agents, escrow houses, and title companies. If these folks aren't calling you back--seek out other help.
I hope 2009 is a wonderful, wonderful year for you Frank!
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