I once told a young couple who were barely able to qualify during a shifty Real Estate market to NOT buy until they strengthened their position. They absolutely had no reserves, rainy day money or cushion and were dependent on never missing a day of work. They were stressed about the whole thing. It was the right thing to do at that time...

Nope.

As an agent, it wasn't my responsibility to help people get qualified but I could recommend a few qualified loan officers to help them.   Actually, it's best not to get involved because if things go bad they might blame you. 

I wish you all the best with your real estate studies.

not any stories... but had them sell personal property to raise money if they were short...jewelry with appraisals...... or take a collateral loan against whatever they had for collateral.... 

Yes, I do... but this is part of my fiduciary responsibility to maintain confidentiality so I wouldn't discuss this in an open forum. And as I don't loan money my involvement is usually limited to introducing my clients to the right lenders for their specific situation. At that point I bow out of the equation.

I don't kennith, I send my clients to a licensed mortgage broker to qualify for a mortgage.  

Seek out a trustworthy mortgage broker with multiple funding sources.

Yeah, I helped a HS friend rebuild his credit for 18 months. We went and looked at a dozen or so homes and he drove by a sign called the agent and bought the house through the listing agent. 

Irony of that story is, he bought an ex's childhood home, which had done the same thing to me the previous year, after dragging me around for 4 years before she transferred back home after the military. She did not need help with the mortgage though.

Yes I do. One that comes to mind is the time I spent a Saturday with a client while he repaired over 20 freeze damage breaks. The plumbing had to be in working order in order for him to pass the Appraisal. It was FHA too, so they were going to be extra picky. A few trips to Home Depot & a long day of passing him tools but he got the loan & bought the house and now I know how to swap out copper piping.

Absolutely. I've successfully steered several people to USDA loans that were turned down for conventional loans kennith Frazier 

Not very interesting, I just refer them to good local lenders.

No, we do not, and I would keep such stories as confidential.  A

1. Loans to movie stars, but they made me sign an agreement to not tell. They blank out the deeds

2. Drove to someone's house 31 times 2 hour drive one way to get it done.

3. Had a couple die during the process

Mostly love the happy stories where they dance at closing. Did have one win a small lotto AFTER closing 

A buyer couldn't qualify by conventional means due to the property having an access easement over BLM owned by a neighbor.  We had a portfolio lender fund the property.

Nothing I can share here. Good luck with your studies, Kenneth!

No and that would be confidential.

There are stories with every transaction. That is when you find ideas for blogs.

Yes i do.

Instead of 20 Questions per day...

I have many from my mortgage broker days but in real estate I either list or work with cash buyers.

It has been 11 years ago that realtors have nothing to do with mortgages or applications. Not sure your home work for studying  material is all dated from years.  Next time go for an in person license exam as this kind online schools are only after your money. 

Helping people get qualified.

This must occur BEFORE they become clients.

My most rewarding and easiest tool is accessing the 'unclaimed funds' resources every state has. Found money could mean paying down a card or two.

Knowing the limits of USDA and regional development funds can go a long way in getting people qualified.

I have a different view, a buyer who did not listen, went out and bought a new car and a camper before they closed and the bank pulled their mortgage

No idea. 

Nope.

My lender does that.