Bob FraserCFO & Macro Strategist | Data-Driven Investing Expert | Speaker & Author

Ask them a ton of questions and try to understand their process | Erik Van Horn

Name: Ask them a ton of questions and try to understand their process | Erik Van Horn
Uploaded: 2022-09-20T10:43:42+00:00
Duration: 29 s
Channel: Bob Fraser
Description: In this brief segment, the speaker shares his frustration with lenders who often deny loan applications at the last minute. He advises borrowers to…

20 Sept 2022 · 0 min

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In this brief segment, the speaker shares his frustration with lenders who often deny loan applications at the last minute. He advises borrowers to mitigate this risk by proactively engaging lenders: ask a large number of questions to understand the lender’s decision‑making process, the specific bank’s policies, and the mindset behind their approvals. By becoming well‑informed about these factors, borrowers can position themselves more favorably and increase their chances of securing a loan.

Here's another point too. I'm off of trashing lenders, but it's true. I think that's really important to talk about. There's challenges with different lenders and I hate dealing with lenders sometimes because I always have this expectation they're always going to tell me no at the last minute for whatever reason. So I think the lesson that I've learned dealing with lenders, try to understand them, ask them a ton of questions and try to understand their process, their bank and everything that's in their head. Because the more knowledgeable you are, the better off you'll be kind of dealing and trying to get a loan.