“Many Potential Home Buyers Don’t Feel they will Get a Mortgage”

Many real estate markets around the country are experiencing slower sales in 2014. There are many reasons, but one stands out above all others. Many feel that they won’t be approved. I continue to get calls from Realtors, friends, family and co-workers asking me to speak to so and so. It seems like there is a common theme. Many of the comments and concerns are:

1) I don’t think I will get approved
2) I keep hearing how difficult it is to get a mortgage
3) My credit scores are too low 

We are an industry that is so over regulated, I often feel like we are torturing some of my clients. Some of the items that are being asked for are just plain crazy and ridiculous. Especially, when we are near the finish line and something new is needed. The stress that clients are put through in many cases, is beyond crazy and totally unnecessary. 

So, anyone that has gotten a mortgage over the last few years is telling everyone around them about the crap that they had gone through and have now created lots of folks that are saying, that if so and so had difficulty, I have no chance. 

There was a time, that if you were breathing you could get a mortgage, the process today literally can take your breath away. OK, so what is the answer. There are hundreds of thousands of potential home buyers that need to be educated. Sure the mortgage process may be a pain in the A$$, but so often many of them can own a home, which is much wiser than collecting rent receipts. 
Sorry for my rant.