I just wanted to take a moment to remind other people in our profession why we do this job. Yesterday a customer came into my office to sign RESPA documents in order to do a refinance. Unfortunately my customer was in a adjustable mortgage that had adjusted several times. Like many other Americans today, her family constantly struggled to make the mortgage payment. The home had been in her family for years, passed down from her parents. She grew up there, her children had called it home for the past nine years. She had refinanced to do some much needed repairs to the older home. You know the story, she could easily afford the payments with the lower teaser rate, but when the payments almost doubled due to the adjustments, her family walked a tight line. I could tell by her demeanor that she was nervous and afraid. After all she thought she had made a good decision several years ago with the refinance, and understandably she was leery. So i took a extra moment and explained to her that I understood how important this transaction was to her. That this is a big decision that will effect her family for a very long time. I promised that I would treat the loan as if it were my own, I promised and I will. The woman began to cry uncontrollably. I was in trouble because I have this rule that no one cries by themselves around me. Take a moment to consider how it must have felt to her to know that there was a very good chance that she was going to loose her mother's home. How it felt to know that unlike the two generations before her , she would not be passing it down to her children when their time came. To loose all the history, all the holidays, the front porch where your grandfather proposed to your grandmother.
The documents were signed , the loan will be an easy one to do. Her payments will decrease by $483.00 per month. She will be able to afford the payments now , and keep her family home! All of this because one night, at 7:30, in a high rise office across town, I decided to make one more prospect call. I would encourage everyone in our industry, especially while the interest rates have dropped , make the calls. Stay late, come in early, do what you can to get the word out to the public. If you enjoy the fruit of our industry in the easy times, be loyal to it in the more challenging times. Your not just refinancing a house, there are people in those homes. It's that important!
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