I know that a lot of you other agents out there can relate to me on this, but let's talk about the disappointment that is involved when a client of yours doesn't get approved for a loan. Granted, most of the time you sincerely hope that he/she is approved BEFORE you get invested, but sometimes that is not the case. Aside from losing out on commission, for me it is also very disheartening to watch a person or a young couple basically get rejected, for whatever reason. I hate seeing them let go of the dream of owning a home, even if it is only for a short period of time.
On the bright side, they probably weren't approved for a reason! With foreclosures at the highest they've been since 1972, I can't help but wonder if not being approved, sometimes, can be a very good thing. I would rather see a person wait until he/she is in a better financial situation than to wiggle his/her way into a loan only to have to default in the end.
I think this is post is more a pep talk for myself than anyone else!
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