Hardship is running rampant these days. Everywhere I turn as a real estate agent I hear stories that bring me to tears. Many people are experiencing financial problems, unable to pay their mortgage and getting deeper into debt. Some of my past and present clients have confided in me about the feeling of shame and embarrassment they have experienced. Rarely do they talk openly to others about their financial problems and will usually treat this like a dirty little secret. And, most people don't know where to turn.
If you are experiencing financial hardship, the truth is that you are among many. Knowing this may not make you feel any better about the situation, but it should alleviate any embarrassment or shame. You are not alone. This is a sign of the times - 2009. And, perhaps talking to friends and family will help you get things off your chest. Hey, you never know who might be in a position to help you.
Last weekend I met a lovely couple at a party. She was about to undergo her last of several chemotherapy treatments for breast cancer. He had just experienced a third hospital stay since the beginning of summer after undergoing brain surgery. They hardly knew me, but they talked openly to our mutual acquaintances and were not feeling awkward about including me (a complete stranger) in that conversation. As I listened intently I realized that he has been out of work for several months, is behind in his mortgage payments, has credit issues and his bank won't give into his request for a loan modification.
I then told him I am a Realtor and suggested that maybe I could help by referring them to a good local attorney. I did not suggest that we talk about selling his house and I wasn't trying to move in for the kill as a real estate agent. See, he made it clear that he actually wants to STAY in his house where his children are most comfortable. All he wants to do is work things out with the bank. Oh, and he did also mention that he is still very good friends with the Realtor who sold him his house. They socialize on a regular basis with her and he asked me if I knew his friend professionally. I explained that I have talked to her on the phone a few times and I immediately knew I needed to respect that relationship.
I could have walked away thinking there was nothing to gain as a real estate agent. But, I didn't. I promised him that I would email the contacts I have to his friend the next day and he was receptive to the idea because the lawyer he had started to use was 3 counties away. I also suggested that he contact Cornell Cooperative Extension - a non-profit agency with representatives who might be able to help them work directly with the bank's work-out department. As, my attorney source tells me "lenders as a rule have come to realize that intervention during the delinquency and working creatively with the consumer who has the ability to pay in some way is better than a foreclosure". It's really worth the try.
My role as a real estate agent isn't always about trying to scrape the bottom of the barrel to find real estate leads and grow my business. It's not always about my own personal gain. I am always on hand to listen, even when I know I have nothing gain, I will at least try to provide a community service. A good Realtor knows that where to draw the line, when to just listen and provide advice - even if it's a FREE service. Real estate agents need to have a good mind for business, but a bigger strength is having the good heart to help others.
For Dutchess County residents seeking financial counseling FREE help and services are available at the Cornell Cooperative Extension - (845) 677-8223 ext. 119 ...click on the link below for more information.
