According to an article that I just read in the Washington Post two new national surveys found that significant numbers of borrowers believe the current mortgage process is a major hassle.
“In mid-January Nerdwallet polled 2,241 people who had applied for mortgages. Forty-two percent said they had found the mortgage experience stressful,” and 32 percent found it “complicated.”
In an analysis accompanying the Freeandclear survey, where 75 percent of borrowers compared the process to either a physical or a dental visit, it’s evident that most people put getting a mortgage in the “unpleasant but necessary” category.
There’s no question that federal and state regulations and mandatory disclosures have become very rigorous in the wake of the financial crisis — and for good reasons. The no-hassle mortgage lending of the past produced hundreds of billions of dollars in losses for lenders, and millions of Americans lost their homes to foreclosure. More than a decade later, many families still have not recovered.
But don’t let the mortgage process make the dream of homeownership feel like a trip to the dentist! I am here to make the process as smooth and seamless as possible. Click below so see what my borrowers say about their experience:
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