Real Estate Sales vs Real Estate Loans

I have been a mortgage broker for almost 29 years and sold real estate for about 10 of that.  I get calls all the time from friends and past clients wanting me to do their loans.  I know some of the smartest brokers in the business.  From Paul, to Mitch, to Tracy.  These people love the loan business and have stayed in it through the last 3 years of HELL.  Yes that is what lending is these days.  Conventional lending is like putting your thumb in a vice and slowly crushing it.  Every lender knows this to be true and yet they stay in the Fray.  Selling real estate is the most fun I could imagine having in the real estate field.  The people aspect of helping families find that house or sell their home is quite satisfying.   Whether it is a family moving to a dream house out of state to getting a single mom out from under an impossible mortgage payment and loan amount that is crushing her.  The satisfaction is huge in both circumstances and makes my business life as satisfying as it has ever been.

Realtors will go on and on about how difficult it is selling a short sale and dealing with one, two, or three lenders who are not getting paid their full amount owed.  The hardest short sale is still so many times easier than the easiest home loan.  That is the truth.  The current mortgage broker works and gets a commission that these days is not enough to put up with the grief that he/she gets from the client, lender, processor, owner, appraiser, underwriter client’s family,  My hat goes off to the people still in the  Mortgage broker business.  If you need a loan or want to sell your home, give me a call.  PS. I will not do the loan but know the best brokers out there.

Pat

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