how things are really going.
Maybe you’ll discover that the loan really is on track. Maybe you’ll discover that things are a complete mess. But either way, you’ll get the real answer and not just a patronizing brush-off. If you know the road, you can’t be sent down the wrong one. If you know the scam, you can’t be scammed. With knowledge, you can’t be misled. Ask the lender, “ What step are we on? What is left undone? Where are we at? What does ‘on track’ mean?” However, there’s no point in asking those questions if you don’t know what the answers mean. If the lender responds with a bunch of industry acronyms and lender jargon that is foreign to you, their answers simply won’t make sense. In this case, it’s not enough to simply demand more details if the details are simply gobbledygook as far as you’re concerned. An educated consumer is always the best consumer. If you’re an educated consumer, you can obtain better results and you can make better decisions for yourself. Education will give you an upper hand when you’re dealing with lenders. It makes the process easier because you know what’s going on. You know what’s happening. You understand the terminology and what things mean. No one can get by with an “ Oh, everything’s okay,” toss-off statement and expect you to go away. You’re going to ask for specifics. Here’s the bottom line: if there are problems, you need to be prepared so you can make better decisions — and help your clients make better decisions, too. You need to be there for your clients to give them advice on whether they should move forward with a transaction, whether or not they should move forward with that particular lender, and what’s going to be the best outcome for them during the lending process.
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