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Lending Money for a closing

By
Real Estate Agent with RE/MAX Hometown

I have done my last good deed when it comes to loaning money for a closing. Two years ago Plus, I loaned a buyer $3,000. to close on her condo. She was in a bad position and was here with her little girl and had no way to get the money. I made the loan and to cover my a_ _ I had her sign a mortgage. I was told at the time, your the best, thank you so much from me and my daughter. I have kept in touch with this client like I do with all clients on a monthly basis by mail and by phone.

Six months of payments came and than I was told that she lost her job and could not make any more payments to me. My attorney friend ask me if I recorded the mortgage I said NO. He told me to go that minute to record the mortgage. A year has past and I got notice that foreclosure on the property took place and that there were surplus funds and that I had to make a claim. I did all the paper work myself and three trips to Miami-Dade County Court House yesterday. The client was there yesterday and got in my face to in front of the judge to tell me that I did not loan her any money. The judge told her this was not the time to come up with this, It was the time to see how much I was owed.

I cannot believe how so ungrateful someone can be. How she could take the position she did. How nasty and unprofessional. All I can say is never again in the second position. Thought I had done a good deal. Beware so this does not happen to you.

William Seufert
Florida List For Less Realty, Inc. - Pembroke Pines, FL
HOLY SMOKES! YOU TOO? I thought i was the only fool. Never ever again for me.. I got popped for $3800.  
Sep 08, 2006 04:51 AM
Rich Jacobson
Fathom Realty West Sound - Poulsbo, WA
Your Kitsap County WA Real Estate Broker
Bob, I truly empathize with you. I had a similar transaction this past Spring. It's unfortunate when you give so much of yourself, financially as well, and then to have clients who show such ingratitude for your efforts. It's hard not to become jaded or calloused.
Sep 08, 2006 05:04 AM