Do you want the good news or the bad news first? Let’s do the bad news first: It was reported in the Sept 10 Milwaukee Journal Sentinel Business section that , "33% of home loans failed to close last month (August, 2007)." Getting a mortgage and having it funded didn’t use to be a big deal. But now? You had better chose a solid lender to work with to be sure of a close on your home. The fall of the sub prime market and increased foreclosures has many lenders tightening their purse strings, often failing to provide previously promised loan dollars to home buyers at the last minute. Many went out of business because they had all their eggs in the basket of "risky loans."
So…What’s a home buyer to do? What’s a home seller to do? LOOK FOR AND USE REPUTABLE MORTGAGE COMAPNIES! Even sellers pay attention to the lender their potential buyer has selected as an indicator of the strength and solidity of the offer being made!
Now for the GOOD news: First Weber has for years partnered with mortgage companies we had good experiences with. One of these, an affiliated business of First Weber Group Southeastern Milwaukee, is Priority Mortgage Corporation.
Guess what? Priority Mortgage funded 100% of their loans in August 2007.
The real estate agent matters, the lender matters. Most of all, maybe, experience matters. Experienced mortgage companie and agents can sometimes salvage a failing transaction. We’ve got both. Can we help you?