One Client I Can't Help

Mortgage and Lending with America's Mortgage LLC

I have always enjoyed and take great satisfaction in helping people buy their dream home or buy their first home. Especially with first time home buyers it often can be a long and deliberate process for the client and me. I have seen it take 2 years before. Thankfully, I am persistent and/or stubborn. I have always told my clients that I am willing to work as hard as they are. 

But, there is one client or one type of client I can't help sometimes. And that's a client who does not listen to and act on my advice. I have one client I have been talking with for nearly a year. 

In the spring of 2009 I ordered her credit report and she only had one credit score because she has so little credit in her name. At that time, I had 4 or 5 banks who would lend to her with just one credit score. I encouraged her several times to open an additional credit card or personal loan or to add her name as a co-borrower to a family member's credit account to establish more credit and 2 or more credit scores so that she could be easily approved for a mortgage. 

She recently called me about getting pre-approved again for a FHA loan as other mortgage lenders she talked to were not helpful and did not call her back ever. So, I ordered her credit report and guess what? She still only has 1 credit score and only 1 credit account. Ugh! I wanted to scream! 

Now, I only have 1 bank that will potentially approve her loan IF we can document non-traditional credit. And this bank charges extra for her lack of credit scores and credit history. In fact, she will now be out of pocket an additional $2,000 because of this decision.  


Comments (2)

Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro

Lonnie, Doesn't it make you want to scream.  You can lead a horse to water you can't make them drink.

Feb 08, 2010 02:01 PM
Eric J
Eric J - Dream Home Financing - Freehold, NJ
Dream Home Financing

Lonnie, this is not surprising to hear. People are not responsible. They don't listen. You probably spelled it clearly for her and she still ignored your instructions. People like that are prime candidates for foreclosure.

Feb 08, 2010 02:02 PM