BankTurndowns.com Is A Unique Service Where Turndowns Are Approved
By: Bill Burress, Nationwide Mortgage Expert | Posted: 25th July 2007
BankTurndowns.com is a new site with a unique service available for real estate located in the United States. This site is set up primarily as a referral site for bankers, loan officers, builders and realtors to refer their clients who get turned down or who might get turned down. The site is also useful for the consumer to go to directly to get help. A turn down is never palatable. Nobody wants to be turned down. When a turndown occurs during a house purchase it places the realtor in jeopardy and ditto if a builder is involved. In a banking relationship, when a mortgage turndown occurs, the bank often times risks losing the borrower's other business as well.
A great feature about BankTurndowns.com is IT'S EASY! and IT'S FREE! Anyone can go to the site and in 30 seconds have the form filled out and submitted. There is no lengthy application, just the contact info! At the bottom of the form, the realtor, builder or loan officer can type in their contact information as referred by if they want to be apprised as to the progress of the mortgage. Another way BankTurndowns.com makes it easy is, there is no application fee. It costs nothing to see if you can get approved! To see how easy it works, view the inquiry form -[Click Here]
BankTurndowns.com is a simple site with no bells and whistles. You can go to the site and enter the contact information and click submit. The contact information is transmitted to a loan officer who will respond to you and talk to you confidentially about your situation.
BankTurndowns.com can get mortgage loans approved that conventional banks or lenders can't. With hundreds of loan programs available and hundreds of lenders and investors, the borrower's chance of being approved is greatly improved.
With the recent implosion on Wall Street with mortgage lending, seemingly overnight many lenders and banks have tightened up to the point of being ridiculous. Not long ago, if you had a pulse you could get a mortgage. Nowadays to get a mortgage loan through usual channels, you jump through a lot of hoops and then get turned down.
Don't fall into the downward spiral. Many folks who get turned down will go frantically from lender to lender in hopes of being approved. The problem is, every time the borrower applies for a mortgage with a new lender it is recorded at the credit repositories as an inquiry. There have been occasions when good risk borrowers have been turned down by some pencil neck geek of an underwriter because of other inquiries. The underwriter will look at the credit report, see the inquiries, assume they are turndowns and think the borrower is a high risk. This may also happen in the event the borrower fits nicely into the underwriting guidelines of the new lender. The underwriter might think, the borrower looks good to me but I see these other inquiries. I probably missed something. Then the underwriter proceeds to turn the borrower down. This is what is called discretionary underwriting gone bad.
At BankTurndowns.com, you can feel rest assured that you won't have any unnecessary inquiries on your credit bureau. BankTurndowns.com only uses licensed professionals that know what they are doing to place you into the right mortgage loan.
BankTurndowns.com is the creative way to get approved. Bill Burress, founder of BankTurndowns.com has been originating mortgages for 26 years. Bill is also the founder and principal broker of Cincinnati Mortgage, LLC of Florida. Many relationships Bill has in the mortgage business have been built up over many years. The amount of lenders and loan programs is almost endless. BankTurndowns.com finds the right loan program for the borrower rather than trying to force fit the borrower into a particular loan program.
The way many lenders operate is like the small shoe store years ago that is understocked with shoes. The customer comes into the store for a size 7 1/2. The shoe salesman goes to the back room, doesn't have size 7 1/2 and brings out size 7. Then he tries to force fit the customer's size 7 1/2 foot into a size 7 shoe. How uncomfortable!
With BankTurndowns.com you will get that custom fit mortgage that is right for you. Whether its a commercial mortgage or a residential mortgage it will be right or we won't write it.
To submit an inquiry for a purchase mortgage loan or refinance mortgage loan, [Cick Here].
About the Author
Occupation: Nationwide Mortgage Expert
For informatinon on any of your mortgage needs, You may contact Bill Burress, Nationwide Mortgage Expert at Toll Free 1-800-239-1416. Bill Burress, Nationwide Mortgage Expert can approve loans in all 50 states and has over 27 years experience in the mortgage business.
Now approving real estate mortgage loans in the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.
Copyright © 2008 Bill Burress, Nationwide Mortgage Expert. All rights reserved worldwide.
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