It was many years ago when baby sister was needing to sell her home as she and her new husband had bought a new home and were ready to move. The home she was selling had been her starter home and I had helped her buy it years before early in her first marriage. Her children grew up there and now they were college age and moving on.
I love working with family because I want them to be treated in the best way possible and to put all my knowledge and expertise to work in their best interests. It seems to always work out well.
My sister had a lady in her church that had fallen on bad times. The lady had been knocked down so many times and needed a break. She worked hard, didn't make a lot of money and needed a home. My big hearted baby sister thought it would be wonderful if I could figure out a way to sell her home to this lady. The lady knew the house and had expressed interest in wanting to own a home, this home.
I took on the challenge. First, I set an appointment to get to know the buyer. I needed background and to see what hurdles that would need to be crossed. There were many. I saw so many roadblocks that I wasn't sure it would work. But she had such a desire to own the home and my sister had such a desire for her to have it, I had to make it work.
I contacted my most resourceful lender. The buyer made loan application and we all decided we would find a way. The credit scores were low but there were circumstances. The good part was that the buyers job was sound and she had longevity. Though she didn't make a lot, she didn't have much debt now. The lender found a first time home buyer program to help with closing costs and the downpayment. We jumped that hurdle. The buyer met the profile for the program but the low credit score was a showstopper.
We all got together and helped the buyer write some gut-wrenching letters. This was in a time that underwriters listened and letters of explanations helped. The tragedies that had befallen the buyer were not of her own making. She had persevered and had managed to not go bankrupt and fold like a cheap tent. I was proud to hear about her fight and the way she came through it all.
The underwriter was able to reclassify some of the old debt and though the score was low there were some compensating factors. I am not sure what they all were but the buyer was approved for the loan, though it was by the skin of her teeth.
She bought the house. It took almost twice as long to work through the process but my sister was willing to wait. The lender was committed as well and continued to say, I will find a way. What a great feeling it was knowing I had been a part, knew the right people to call on and helped make the wish of my sister and her church friend become real.
When the deck looks stacked, don't give up. Look at in from all different angles. Call on your resources. Don't take no for an answer. Persevere. Wishes do come true for sellers, buyers, agents and lenders, too.
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