I met with a prospect today at an appointment this morning. I'm the third realtor he has talked to in the past 3 days. A few months ago he followed the advice of a few professionals who gave him empty promises and after 3 months they failed to deliver. This homeowner wanted to refinance his home so he could help pay for his sister's help who was given 3 months to live.
The homeowner wanted to help pay for the last days of his sister's life who was dying of colon cancer. After completing the required paperwork, paying for an appraisal and digging up the paperwork needed; the homeowner thought that the financing was going through. Two months later, the homeowner made an inquiry to the lender. The lender responded that the loan officer never handed the paperwork into their office. Needless to say, the lender denied the loan and caught the homeowner in a pinch. Now in the position of possibly loosing his home, the homeowner has contacted me to help. The help he hopefully trying to provide to his wife never came through and his sister passed away.
After researching the facts, the loan officer quit working on the file because there were other files that he could get paid more money. Now this homeowner is facing a bankruptcy, foreclosure and many late pays on his credit cards. This is not abnormal. Loan officers are commissioned sales people and the work on the files where they can make the most money.
I use a mortgage planner who gets paid for providing advice and helping people plan. Typically, clients benefit and he gets paid about the same no matter what kind of loan product he suggests. If you know of a place of help that this homeowner can turn to, please let me know.
Dowell Taggart Team