Decision Making Paper

MGT/230- Jack Geer

Mary Demarest

People need to use decision making to make important decisions about things that happen in everyday life. When big decisions need to be made in someone’s life then the decision making process should be used. Something happened big in my life two years ago and the decision making process was not used very well.

They walked into the loan agent’s office and sat down and asked him what it would take to get approved for a home loan. At that point the loan agent sat down and got out his pen and paper and began to write.

The problem is how they can get approved for a home loan. The loan agent began by checking their credit report to see what was on there. There were several outstanding debts on there, but he said that he could work with them to get the loan. The agent checked with his connections at the bank and the bank guaranteed them a home loan (called an FHA loan for $150,000). All they would have to do is fill out the application and show proof of income and show proof of bank accounts. Everything sounded pretty easy, that is until the agent wanted them to get all the outstanding debt off their credit report.

So the agent went ahead and told them how to get the outstanding debt off their credit report, they were then told to call all the agencies on the credit report and ask how to get those debts removed. Most of them had been paid but were not removed. They were asked to go ahead and pay off the judgment that they had against them and the agent would try and get the removal of the judgment on their credit report. So they went ahead and called all the agencies to see if they could get letters saying that their debt was paid, and they paid off the judgment also. When they did all these things there was one other problem they had to face. One of the creditors was being really nasty toward them. They could not get this one creditor to remove their debt and this was another problem they had to face. So with this problem not resolved the agent said that it would take some time and they did not have time since they had found a house in their price range and they were waiting on the loan agent to contact the real estate agent to let him know everything was a go.

After several attempts of trying to contact the loan agent, and when the couple tried and called the loan agent, they kept getting the run around about when the loan would be approved. They had a deadline to meet if they wanted to get this house since it was a H.U.D home (a program ran by the state of California). When this would not happen the loan agent brought the couple in and sat them down and told them that their loan would not be approved because they could not get the debts erased from their credit report. Then the loan agent said that there was nothing more he could do and handed them their paperwork. So the real estate agent referred them to another loan agent and they had to start the process all over again.

Now that our real estate agent knew that the loan agent put everything back in the couples lap, what he did was set them up with his loan agent that he trusts. She met with them and she said that