"Mr. Petrowsky
I have to apologize for my buyer and our mutual client, he is definitely a space cadet. I know you have requested the necessary documents so that you can get the mortgage application completed. He called me earlier today and told that he doesn’t know why he needs to supply any bank statements and retirement accounts. I tried to explain that the lender needs to verify the down payment funds and to make sure none of the down payment funds are borrowed.
I asked if he contacted you to discuss his concerns, he said that he probably wouldn’t get anywhere with you. I personally think he is having second thoughts about buying the property."
I followed up with the client, as I didn’t get the impression that there was an issue with the items I had requested. After about a half hour of conversation, I found out that when he was in his late teens, he was a victim of fraud, and his bank account was cleaned out by an uncle that was an alcoholic. Some may know that when an alcoholic gets desperate, they do desperate things. He was afraid that if his financial information was shared, his money might be stolen again.
I explained the care we take with financial information and how all client data is protected. Even though I shared that with him, he drove the information to my office (90 minutes away), but he felt better about what he was doing.
This was a good lesson for me, some clients just need more hand-holding than others.
“Who Do You Know That Needs My Help”
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