I Got to Be a Hero for a Hero!
I recently got a call from a local REALTOR, asking me to contact a family member in Sacramento who needed to refinance.
I called him and was delighted to discover he was veteran, just like me. I met him at his home later that week.
This gentleman had served over 20 years in the Army, serving six tours in the Middle East, the last of which left him badly wounded. I was humbled to hear his stories; my service was peace time.
The Major was already in process with another lender for his refinance. The appraisal had been completed and his rate locked. Looking at the quote, I advised him that I could possibly beat his loan terms but it really wasn’t worth him starting the refi process all over again, including the need for a new appraisal. He thanked me for my honesty.
A week later, he called. He had decided he wanted me to handle his loan anyway, even if he had to get a new appraisal and the interest rate was the same. I was stunned and honored to have earned his trust.
I found a lender that, after some arm wrestling, agreed to accept the other lender’s appraisal. Rates took a downturn and I locked the rate slightly lower than the other lender was offering. Finally, after the masses of paper were sent to the Underwriter, the loan was fully approved and ready to fund.
Then the Funder called for the Verification of Employment, didn’t like what she heard, and handed the file back to the Underwriter. When I called the Major to explain, he told me that he would pay me from his pocket for my work on his loan if it didn’t go through. (“No, Sir,” I thought. “You have done more than enough for me in your career!”)
The next couple of weeks were spent explaining and documenting how military employment works. Thankfully, the lender signed off on the loan and we FINALLY recorded today!
The Major’s rate was cut nearly in half and his payment significantly reduced. Best of all, he never has to hassle with refinancing his house again!
There has been a lot of discussion here in the Rain about whether we do what we do primarily to help people or to make money. It was an honor to help someone who had served all of us.