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Updated almost 8 years ago on . Most recent reply
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Something isn't right with my Mortgage Broker.
Good afternoon everyone. Iv'e learned a lot from posting in these forums and I would like to thank all of you that responded to my posts. From members advice I started to create my team and contacted a real estate agent. This agent is great in my eyes, after talking for the past week. Iv'e learned that he has/is an investor in real estate and willing to take it step by step with me to fulfill my dream in real estate. Yesterday I gave him my mortgage brokers number to talk to him about what's going on with finding a lender. Well this is where it's getting thick. My mortgage broker didn't want to give him any information due to legal reasons. He's telling me to slow down and wait for him to find a lender which will take a few day ( it's already been two weeks). He can't give me the name of the type of loan he's looking for or the company. I'm not real estate savvy but I know full disclosure between agents/brokers and clients are necessary. I spoke to the agent this morning and in his words "something doesn't seem right with the broker". The agent is trying to get me an owner occupied loan, but that's not what i'm looking for. I'm really anxious to get my feet in investing, but don't want to lose money I saved on fraud or rushing the process. Am I rushing things or do I have a problem?
On another note. Any real estate agents in the Chicago area that can help me pass the state exam message me PLEASE. Iv'e passed the required class but haven't taken the state test to certify. It has been a year and a half since I passed the class and my time is running out before I have to start all over again. Thank you
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@Richard Moore what is the time limit before you have to take the real estate class again? Normally it is 12 months.
If you think something is not right with the lender then you should probably run away and find someone who can educate you, and explain the whole process in a way that makes you feel comfortable.
I always suggest Kaplan online study materials. They helped me pass the test the first time in 2 states :) Good luck