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How can mortgage pros reduce ‘buyer’s remorse’?

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Mortgage Professional America | 17 Nov 2016, 08:15 AM Agree 0
A recent study found that 21% of people who bought a home this year regretted their choice of lenders – even buyers who said they had a good experience. So how can mortgage pros address the problem?
  • MattTheMortgageGuy | | 17 Nov 2016, 12:04 PM Agree 0
    Well written article. I think most folks are overwhelmed with the process based on lack of knowledge. I try and state things in simple terms and remind folks that I don't expect them to be a mortgage professional or understand the intricacies, that's why they are working with me. Just like I don't need to understand how my mechanic performs a transmission repair, as long as I trust his knowledge and that he has my best interest in mind.
  • MTGMMC | | 17 Nov 2016, 12:19 PM Agree 0
    As a thorough communicator and 20+ year broker/banker I can say that it's most likely not that consumers regret their decision to use a particular mortgage company (although we all know there are some terrible ones out there), but more so that the unintended consequences of the regulations in place today, from a compliance standpoint, have made the process confusing for the public - despite having a mortgage professional coach them through it all.

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