Regardless of the market, regardless of the conditions, regardless of the underwriting guidelines, regardless of the location, people will always need housing. Some folks like 5000 sq/ft mansions, some like 900 sq/ft bungalows, but it's still a house.
What do a lot of people look for when they need a house?....A MORTGAGE! And to get a mortgage (usually) they need to find a Loan Officer of some type, right? Are you following me with this thought process yet?
Let me put it another way. Sears Department store has been in business for a very long time, right? One item they've sold for a very long time is a drill. Nothing fancy about a drill, it's just a device to creates a hole. If someone could make a hole with his finger, he wouldn't need a drill. Sears doesn't sell drills to people who need drills, they sell drills to people who need holes. Now are you following me?
People don't come to Mortgage Brokers and Loan Officers to get a mortgage, people come to Mortgage Brokers and Loan Officers to get money to buy stuff with. No buddy ever came to a Mortgage Broker because they wanted a mortgage. The mortgage was the vehicle they needed to get what they really wanted. The mortgage was the drill so the borrower could make his hole. Get it? (yes, I understand there could be tax benefits with a mortgage,but that's another discussion for later)
What I'm saying is if you're a Loan Officer of the mindset a borrower needs a mortage, you may need to tweak that thought just a tad. If you focus on what they need that mortgage for, then you can relate more to the borrower's needs.
And now I would like to invite you to get "Mortgage Info With An Attitude" with Free weekly answers about the mortgage business in the Mortgage Mailbag. As a Bonus, you'll receive the Special Report "The 5 Biggest Myths about the Pay Option Arm and the Real Truth About Them". You can access this free service and the bonus at
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