“No, This is Not a Client that I am Willing to Assist”
This is not something you will hear me say very often, but this is one that fit for a NO. I listened to an attorney tell me about a client that he had represented to nearly 10 years. He indicated that his client was currently in foreclosure, but starting about 10 years ago, he did a chapter 13 bankruptcy for her, which she was in an out of three times. This was someone who have been in and out of subprime mortgages twice, then into a chapter 7 bankruptcy and now into foreclosure.
There was a pretty good appeal by the attorney to assist his client, but I asked him one question and then the selling stopped. I asked him if he would loan his own money to this client? He immediately said that he wasn’t in the lending business. OK, but if you were in the lending business, would you lend your money to this client. He finally said NO.
Unfortunately, not everyone should be a homeowner, this is just one of those cases. Everyone along the way has found out, this person isn’t interested in paying and I would never consider having any lender that I work with, give this borrower a mortgage.
Based on what I have shared, would you loan your money to this borrower? I thought so.
Image courtesy of DavidCastillo/freedigitialphotos.net
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