Tip 10-2009: Out-of-the-Area Lenders

With all of the new requirements and conditions lenders are imposing on buyers, I strongly recommend using our local lenders. Recently, a local buyer elected to use the REO (Fannie Mae) Seller’s “participating preferred lender” (no local office, only an “800” number). Due to many lender errors, my client is now two weeks late in closing AND incurring a $100 per day penalty. With a local lender, we would have someone to meet with in person, be able to deliver documents directly, and avoid many of the problems that having out-of-the-area lenders may cause. Please contact me if you have any questions.

William (Bill) D. Tucker, III
Tucker Griffin Barnes P.C.


About Charlotteville Personal Injury Attorney

Personal Injury attorney helping people injured in automobile, truck or mortorcycle accidents.
This entry was posted in Uncategorized and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s