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“She was super underwater because she was just draining her savings account, and didn’t really know how to keep her home,” Mino recalled during a telephone interview with Mortgage Professional America. “I took a look at the whole picture and told her we were going to find a way to figure this out.”
Under his guidance, the woman was able to take out equity from her home to consolidate debt. “This gave her a little extra cash to make sure she wouldn’t fall behind again,” Mino recalled. Better yet, “she ended up saving about $1,000 a month because she was paying too much.”
Maintaining a professional decorum proved challenging
Delivering the news to the harried mother packed an emotional wallop, Miro recalled. “When I called her back and said I had a solution and you can keep your house, she just started crying,” the broker recalled. “That’s the rewarding part of this job. Obviously, you have the bad parts too when you have the not-so-fun conversations. But when you can change someone’s life and really do something above and beyond where they did not think something was possible…,” he said, his voice trailing off.
He thought through the situation from her perspective: “She was thinking she would have to sell her house and move to a different school zone where she could afford, and then she’d be renting because she thought she didn’t have enough for a down payment – although she did.”
Maintaining the default position of professional detachment proved difficult, Mino acknowledged. “I remember the call at the end, when I said ‘we’re all set’, she just started crying again. I’m not a big crier myself, but that was a time when you almost want to. I was very close.”
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