The coronavirus pandemic has altered the way many industries do business and has changed the way many customers want to approach businesses. Many customers are concerned for their health and wellbeing, and rightly so.
But despite the pandemic, many businesses need to continue functioning, including law firms and mortgage lenders. Many legal businesses and mortgage lenders have continued functioning, because of the necessary services they provide for their customers.
Jacques Poujade, a real estate and real estate investing expert, is a financial expert with decades of experience in the lending industry. As a managing partner at LendPlus, a direct lender based in Aliso Viejo, California, Poujade is well versed in this field. He’s using his unique perspective to share how law firms are keeping clients safe for closing during COVID-19.
Jacques, tell us about your background.
I’ve worked in real estate and real estate investing for about 30 years, and during that time I’ve held many different positions. Now, I’m a managing partner at LendPlus, and in that role, I see it as my duty to make sure that every American is able to finance their dream property.
I really see lending and financial services as the gateway to achieving many dreams, and I think having the proper mortgage lender is key to finding that success.
How has COVID-19 impacted your industry?
Of course, COVID-19 has had a vast array of economic and financial impacts, in both the real estate and lending industries. But oddly enough, it’s actually an excellent time to invest in real estate, if you’re in the position to.
Mortgage rates are low, and there are plenty of properties on the market, and it’s definitely a buyers’ market. I also recently made some predictions for what would happen to the mortgage market in 2020.
How do law firms come into play?
It’s funny, but the lending industry and law industry are closely connected, because of the nature of closings. That’s especially important now, during this pandemic.
Both lenders and law firms need to make sure they’re taking every precaution to protect their clients and customers. Some parts of the financing process can be done remotely, but when it comes to closings, they have to be done in person. That means there are potentially great risks, when a client chooses to close.
How are law firms keeping clients safe for closings during COVID-19?
There are plenty of social distancing rules in effect, and because of this, clients are making appointments and coming in for closings at individual times. Secondly, masks are being worn in all public spaces, which greatly reduces risks.
Next, law firms are taking great care to sanitize everything thoroughly, especially surfaces which are frequently touched. And finally, law firms are doing as much of the work in advance, and remotely, as possible.
This means they’re reducing the amount of time clients need to spend in their offices in person, and this can make a big difference when it comes to COVID-19.
What do people need to know if they want to close during COVID-19?
Know that both law firms and lenders are taking every possible step to ensure that you’re safe during the entire process. They want to work with you to make this happen, so you can take advantage of low mortgage rates during this time.
If you’re thinking about going through this process right now, I also recently shared some financial advice that people should know during the COVID-19 pandemic. You can check out the full article here: https://www.newsbreak.com/california/aliso-viejo/news/0Oot2Lue/jacques-poujade-posts-new-article-that-offers-helpful-financial-advice-during-the-covid-19-pandemic.