Today in story time I will share a story with the moral “God helps those who help themselves”. So let’s get started
Again the story is about Ramesh and Suresh, who has the same exact profile. Both work in IT, wife works as well. Basically, both have 1 wife and 2 kids and work in IT.
Ramesh is a bit unsure and goes around in circles and Suresh is a bit focused and a little more confident. Both come to know via google uncle that the property market has gone down and it may be a good time to buy property.
Both contact the same mortgage broker named Ram Lal to sort out the mortgage. Suresh’s approach is he contacts the mortgage broker Ram lal and the broker sends him some documents to fill in. After 1 wife and 2 kids go to sleep, Suresh spends 1 hour at the night filling in the fact find documents that Ram lal sent him. He emails the documents along with scanned copies of some documents and makes sure he emails them on the same night.
The next day Ram lal calls him and Thanks for sending all the required info, calculates his borrowing power (750K), and lodges his documents with the bank for pre-approvals. After 5 days of waiting and sending some more additional documents, Suresh gets the pre-approval from the bank. Suresh starts going to open homes and after 8 weeks of shopping around, finds a house within his budget since he already has a preapproval in place and knows his borrowing power, negotiates it to 735K. Seller agrees and they sign the contract.
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The same day, he sends all the documents to the broker and the broker lodges the application for final approval from the bank. In 5 days, the final approval comes and now Suresh and his lovely family consisting of 1 wife and 2 kids are eagerly looking forward to moving into their new home in 40 days. Now let us talk about Ramesh. The mortgage broker, Ram lal sends him some documents to fill out the fact-finding. Ramesh becomes lazy and after his 1 wife and 2 kids go to sleep, he also goes to sleep and forgets to send back the filled information.
God Helps Those Who Help Themselves
The mortgage broker sends him several reminders and Ramesh always forgets, being lazy and busy. He sends back some half-filled documents and after a few days mortgage broker asks for more documents since the bank needs those documents to calculate the borrowing power and issue pre-approval on the loan. Ramesh curses the mortgage broker and tells him that the broker is not good and always harasses him to send documents.
The mortgage broker tells him that due to recent compliance changes, banks are stricter, and the bank wants all the docs. After 6 months of to and fro, finally he sends all the docs, and the loan is pre-approved. Borrowing power comes to 750k. He starts seeing houses and starts going to open homes. But he is lazy and busy, it takes the family 1 more year to narrow down the house. They finally sign the contract. Banks need documents to do the final loan approval.
Ramesh never sends it back in a timely manner. Cooling off finishes and the loan is still not approved. Ramesh has a big fight with the mortgage broker and says that the broker is inefficient and lazy. The days are passing and the property settlement day is coming closer Ramesh is blaming almost everyone else for his situation and mess and the chaos continues in his life………..
So the moral of the story is “Pls help yourself, do efficient time management, and submit paperwork and docs on time so that professionals can help you in your journey.
Be like Suresh who finishes his journey in less than 3 months and don’t be like Ramesh who after 18 months also is blaming everyone else for his situation. Because “God Helps Those Who Help Themselves”. Don’t pray to God to help you, pray to God to support you from the back end when you are actioning things on the forefront. Be an action taker like Suresh and pls submit documents on time”
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Disclaimer: Articles in this blog are just the author’s or authors’ personal opinions.
It may or may not be correct. Please do your own due diligence and seek professional advice according to your own personal circumstances. The author or authors cannot be held responsible/liable for any content in this blog.
*all images are for illustration purposes only
