"I Don't Trust Mortgage Brokers"

“I Don’t Trust Mortgage Brokers”

That is what this gal said to me within a minute or two, so I asked “why are you calling me?” ” As a favor to my boyfriend,” was her answer. I asked her why she doesn’t trust mortgage brokers, I loved her answer. She told me that mortgage brokers caused the real estate melt down that happened a few years ago. I told her, I didn’t realize I had that much power, but decided I needed to find out some more.

We spoke for about 45 minutes, she told me that when she was a junior in high school, her parents lost their home and they had to move to a different state and leave all her friends. Apparently her parents had some reason to blame the mortgage person she worked with, as they could never make the payments for the mortgage they were put into and defaulted shortly after the transaction closed.

I asked her why her parents were willing to do a mortgage that they knew they couldn’t afford? Don’t they have some responsibility here as well? It was obvious that she could see a problem. I told her, I can understand the distrust of a loan officer that would allow someone to sign for a mortgage that someone couldn’t afford, but you parent were just as responsible.

She agreed to call me as I had done a mortgage for her boyfriend’s parents and now will be doing a mortgage for their son and girlfriend. She now has a little different point of view. I don’t believe her point of view has totally changed, because of what she and her parents went through, but I still have work to do to chip away at that distrust.

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