A few months ago, I met with a couple to get preapproved. It was not something that I could do for them. There a couple of outstanding credit issues, there was not enough positive credit, they were paying cash for their rent and they were a bit unrealistic in the price range they wanted to buy.
We spent about an hour going over steps to improve their credit, the way to set up a couple of secure credit cards, the ways to negotiate paying off their outstanding obligations and a more realistic price range that would be better suited for them once they are ready.
They decided that I wasn’t the right person for them to work with going forward. They got a preapproval from another mortgage person and ended up putting a deposit on a home. The only reason I became aware of all this was through the realtor that originally referred them. She told me that the deal was about to fall apart and was their anything I could do.
I apologized, saying that I advised them as to what to do, but they didn’t feel it was best for us to work together. The deal fell apart and they are apparently shopping for another Realtor and Mortgage person.
I guess, sometimes being truthful doesn’t suit every client.