Borrower “A” owned a home on Long Island. His house was worth $2M, his mortgage balance $700K, and he had good credit. He figured refinancing his mortgage would be easy; so he called the phone number on the back of his mortgage statement and spoke to one of their “specialists.”
Borrower “B” owned a home on Long Island. His house was worth $2M, his mortgage balance $700K, and he had good credit. He figured refinancing his mortgage would be easy; but his CPA advised he call a true expert: Warren Goldberg, a Mortgage Planner with whom for years he has entrusted his clients.
Borrower “A” was told by the enthusiastic bank salesperson, “No problem! What ever you want!” He asked Borrower “A” to sign the application and send in his paperwork.
Warren interviewed Borrower “B” and learned about his total financial situation. He helped Borrower “B” choose the right mortgage product that would meet his needs and complement his financial goals. By asking all the right questions, he structured the loan correctly from the start.
Weeks went by and Borrower “A” wondered about the status of his loan. Most of his calls to the bank went unreturned. On the few occasions he spoke to his salesman, he was told, “next week.” Borrower “A” was getting anxious.
Borrower “B” never had to call Warren. His status was never in doubt. Warren spoke to Borrower “B” regularly and sent him a STATUS UPDATE email every week. Borrower “B” knew he was in good hands.
Borrower “A”s loan was finally approved. But a week before the closing, Borrower “A” was told his title report showed an Equity Line of Credit on his house (which, of course, wasn’t news to him). He was told the line would have to be closed or subordinated. The closing would be delayed. Two weeks later, the bank told Borrower “A” that, based on how the bank viewed his Equity Line payment, he no longer qualified for the refinance. His loan was being denied.
Because Borrower “B” worked with a true professional who asked the right questions at the beginning of the process and structured the loan correctly, Borrower “B” closed on time and on schedule.
Don’t entrust one of the biggest financial decisions of your life to a bank salesman. By working together, we’ll ensure your mortgage complements your financial needs and that your transaction closes smoothly.
Since 1992, Warren Goldberg has helped thousands of clients own their homes, refinance their mortgages, restructure their debts, and invest in real estate. Warren is known for his wide knowledge of mortgage products and wealth-creation strategies.