Loans

[Dale Osborn]

After spending much of 2012 in the process of refinancing several mortgages, I am starting to get a little frazzled at the way bankers treat people in general. You put everything together for them with about 100 pages of documentation and loan application paperwork. All they have to do is evaluate the deal to make sure it will work for them. Things get real quiet for about 45 days - then POW! We need this additional paper from you and we need it back today. It is 3 PM on Thursday afternoon. You jump through that hoop and then Friday at 3 PM they add another hoop or item to get back to them ASAP. You then get another call back at 5 PM about how they want you to redo some of the paperwork to fit the new guys way of doing things in the office now. Your whole weekend is messed up again and you get the paperwork to them first thing Monday morning and things go quiet again. 3 PM Thursday afternoon the process repeats itself! Sometimes you get so frustrated you want to possibly strangle someone on the other side of the transaction. I am sure open at this time to learn more about private investing.

What has been your worst dealing with Bankers/Lenders??