Pearly’s New Pad – Diving Right In

Mallory starts searching for her new home online


Mallory starts searching for her new home online & figures out how to choose a lenderTalk about misconceptions – humans think a goldfish’s life is dull?  Not around here.   Mallory dove into the house buying business with her usual focus. (It’s closer to obsession but I love her so we’ll leave it at focus.) Unfortunately, my human just doesn’t know the right questions to ask about all of this so she’s kind of going around in circles – which is my thing not hers.  Not that I’m certain of the right questions either, my living quarters are portable, but I do know that we don’t know our options (especially when it comes down to how we choose a lender). 

I even had to get a little tough on her; she was about to put all of our financial history and her personal information into an online mortgage program when she didn’t even know the site’s security or encryption level!  All she knew was that she recognized part of the name of the site. Gee, why don’t we just hand out flyers to every financial identity thief that says “We’re gullible, come take our info.”  It’s ok to apply online provided it’s a reputable company and they have a local office to help with the process.  She hadn’t even checked to see if they had a local office – humans, they tend to trust anything sometimes.  loan shark

Once we’ve done this house buying thing a couple of times and know that a website is encrypted and secure then we can work totally on line, but a standard form isn’t what we need this time. It took a while to convince her that this first time around we really need to talk to a human being who knows what they are doing and can ask us the right questions.  And we do need to know how much house we can afford before we begin looking. That’s when the real fun began.

 

So, Mallory doesn’t have friends who have been through the house buying process and not many of her business associates are from around here.  But it seemed that the first step would be to ask around and find out who was really happy with their Mortgage Lender and who wasn’t. (Difficult for me to do, not everyone speaks goldench; had to fall to Mallory.)  What we actually found out was, while she knows a lot of people, most of them have unusual definitions of what an expert actually is.  Allow me to illustrate, (no reason I should be the only one who’s frustrated…)  here are a couple of their “recommendations:” 

Chase has a friend who works at a bank in the commercial leasing department. That friend occasionally eats lunch with someone from the Mortgage Lending department so he recommended him.  Turns out this lunch buddy of a friend of a friend is a nice guy- who was transferred into the department two days ago and is just learning the business.   Not that I’m against ambition; great quality. I’m not against learning new skills; great quality.  We just need someone who has been swimming in the right pool for a while because we’re not sure of what we’re doing either.

One fish, two fish, goldfish....whose recommendations do you trust when it comes to financing… Click To Tweet

Boyfriend Adam has a couple of people he knows from his last base who have bought houses and they all used the same mortgage lender.   That would have been a nice connection except their loan officer is no longer in the business. (Which brought up the “maybe we should buy the house together discussion.”  I’m just too drained to get into that now but I’ll tell you about it later and what is a VA loan anyway?)

Then there was one of her musical clients who had a friend who had helped him buy his house.  Of course the friend was primarily a band manager who knows someone who knows someone in the business.  Seriously?

It was obviously time for me to start making some waves.  After tons of firm persuasion, she agreed to my plan.

fishbowlWe’ll look for a local Mortgage Lender, one we (well Mallory, people object to Goldfish being brought into their meetings) could physically sit down with if needed, but will work with us online or however we wish. 

fishbowlWe’re going to read the testimonials about the person and look through their social media to get a feel for who they are and what they know.

fishbowlWe want to work with someone who has been in the business awhile and knows what we don’t for this first time on the house buying journey. Mallory agreed to bring their references back so I could take a look at them.

fishbowlWe are coming prepared and doing this right.  Once we choose a lender, we won’t be changing.  We don’t need our financial information out there with everyone and we don’t need the hassle of changing either.  (I can’t tell you how long that simple list took us- and they say that Goldfish can’t stay focused!)

The whole process has just worn me out! But at least my human has a sensible plan.  Now I’m going to take a nap, oh I told you I’d tell you about the “let’s buy a house together” debacle.  I’m really just exhausted. Next time – okay?       Pearly

Did you miss week one?  Read the story from the beginning🙂  or catch the next adventure!

 

<Goldfish Bowls  .6 x .6   licensed to plhade under Dreamstime license image 41555958>

30 thoughts on “Pearly’s New Pad – Diving Right In”

  1. I am so enjoying Pearly’s pearls of wisdom, Christy. This is such and fun and entertaining way to help people understand the processes they need to go through when buying a house.

  2. Great advice! We just refinanced and although I wanted to go with one lender as I had a networking group relationship with them, we went with another lender that I grew more and more unhappy with as the process went on. Doing research like you suggested is a must!

  3. Where does one obtain such an intelligent, loving, caring goldfish? A goldfish is woman’s best friend! Who knew? Good luck with this process. It sounds like Mallory is in good hands, er, fins.

  4. Very astute advice from the goldfish! 🙂 We’ve used a couple of online procedures, and it’s always made us concerned…but we’ve spoken with reps first. Still, giving out all of that personal info feels scary and wrong. Mortgage lenders are not created equal. You mention smart ways to research lenders first!

  5. You are such a great wealth (no pun intended) of information and you blow the mortgage lending business out of the water with your knowledge. I love how you turn a difficult and hard to understand topic into something that folks can wrap their heads around… well, enough at least. lol Thanks for including me in your blog!

  6. What a fun way to educate and entertain people as they go through the process of buying a house. So much to know and sometimes just hearing the details can be overwhelming. Having Pearly swim us through the process makes it all seem gentler and more doable! Thanks Christy!

  7. As a branding strategist who teaches the importance of storytelling I am LOVING (geeking out over would probably be more accurate) how you weave this into an industry that most people probably have a hard time trying to give value around. You are a woman after my own heart! xo

  8. I love how you make an otherwise ‘ho hum’ topic FUN! I love your sense of humor. I’m with you about credentials and looking for someone with experience with industry specific people. I’m looking for a seasoned travel agent specializing in group cruise events. There are lots and lots of travel agents and, as I’m finding, vary greatly in terms of qualifications.

  9. Christy, you’ve brought back the curiosity and pleasure of learning. Most of our information is presented as formula information and it’s cut and dry. We try to quickly glean out the facts and move one. Love that Pearly slows you down and makes you think about what you are trying to accomplish.

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