Posted by Becky on 3/14/05 10:03am
Msg #25344

H & R Block

Has anyone done one of their loan packages? SS says that it is very simple. An agent goes over each doc on the phone with borrower prior to signing. By the time I arrive for signing, borrower fully understands each doc. Should not take more than 30 mins. to get everything signed. Is this true?

Reply by sue on 3/14/05 10:41am
Msg #25350

I do these all the time through a title company. The borrowers seldom know what's coming. They are given initial paperwork and if something changes along the way (including loan amounts) borrowers aren't notified. Cash back is usually something borrowers are looking for and more often than not the amount is no where close to what they are expecting. Also, many of these payoff credit card debt and they use whatever their credit report showed, sometimes months prior to the closing - therefore, balances are a lot higher, have been transferred, etc., and borrowers aren't happy. As for an agent going over all the generic docs in a loan package, I truly doubt that's going to happen - loan terms they are supposed to handle and don't even get that done unless the borrowers are savy and push.

Reply by Ernest_CT on 3/14/05 3:44pm
Msg #25399

Re: H & R Block - Option One

"Option One" is the name (or at least one name) for the lending arm of H&R Block. See WWW.OOMC.Com for more info.

Reply by thnotary_NY on 3/14/05 5:47pm
Msg #25416

Re: H & R Block - Option One

I did one of these, nothing out of the usual, maybe a little quicker.