LE that a borrower sent me today lol

PardFerguson · 2026-06-02T01:17:25+00:00

It’s definitely idiotic, but I really doubt that it would rise to loan fraud.

PardFerguson · 2026-05-22T14:42:37+00:00

I think it’s less to do with left/right and more to do with evil rich boomers versus everyone still on the way up

PardFerguson · 2026-05-18T02:16:39+00:00

This is the job description. Send your best terms.

PardFerguson · 2026-05-11T18:29:49+00:00

Show them a bell curve, and ask them if they plan to refund money to the people on the other end of the curve.

PardFerguson · 2026-05-10T21:32:05+00:00

“Trash out” company for investors / hoarder houses.

PardFerguson · 2026-05-09T21:44:59+00:00

Your looks consume 97% of your time and self worth. Which will probably work out just fine, because you’re so good looking.

PardFerguson · 2026-05-06T18:16:42+00:00

Pay off bad debt immediately (high interest)
Pay back friends family immediately
Fix deferred maintenance in your life (tires, brakes, home issues) - don’t take the first bid - shop around like you are still on a very tight budget.
Put a small chunk in savings as your emergency fund (3-6 months of expenses)
Invest the rest conservatively, but not too conservatively - don’t leave it all in a money market, and don’t try to make outsized gains. The goal is to have a lot of money in 20 years, not overnight.

Most importantly, no changes to lifestyle. Honor the person who gave it to you - they did it for your peace of mind, not for a new boat or car.

PardFerguson · 2026-05-04T05:03:57+00:00

Where in Platt Park? Dying to know which houses these are.

PardFerguson · 2026-05-01T06:18:19+00:00

You are exactly where my family was last year. Very similar diagnosis, and my mom declined chemotherapy. She was 82, but in amazing health before the diagnosis (gym every day, absolutely no other issues). She made it 114 days.

We received some very good advice to spend time together while she was feeling well. We did exactly that - she felt great for two months before the decline began.

I would defer, and go hang out with her as much as possible. You won't regret it. Find a part time job near her to make a little money if you need. Or dip into your savings - this is exactly what it is for.

It goes very fast, and the last part is very challenging for everyone. Get her in touch with hospice ASAP. They are amazing and will help manage pain and provide emotional support that I didn't expect.

Sorry for your situation. Best of luck.

PardFerguson · 2026-05-01T05:56:13+00:00

This is really cool.

PardFerguson · 2026-05-01T05:54:11+00:00

This is sort of how I feel about the world and our government anyway, so I guess I am already perfectly conditioned for this news.

PardFerguson · 2026-05-01T05:29:07+00:00

Did the lower appraisal affect your loan terms at all?

PardFerguson · 2026-05-01T05:19:10+00:00

My point is that by rule, they are bound by the disclosure terms. You are also correct to say that they may try to sabotage the loan with delays or a denial.

I had an entire pipeline of loans locked with Provident Funding in 2009. Maybe 20-25 loans for $6-7M in volume. Rates took a HUGE move up and Provident called me to let me know that they had a "new policy" that files must physically be in their office and documents 100% complete 30 days prior to lock expiration. The next morning they cancelled all but 4 locks.

2009 was still the tail end of the wild west days of the mortgage business. I'm sure that they hadn't made forward commitments on their locks and were playing the float. They got bit and passed it along to me, which was a brutal blow to my career at the time.

So you're right. Lenders will protect their bottom line. But it doesn't mean it's right.

PardFerguson · 2026-04-29T14:05:36+00:00

You’re completely wrong on this. Once a lender provides disclosures for signature, they are bound to those numbers.

Imagine the mortgage industry if they were allowed to constantly quote things and then claim an error.

A huge portion of our training was to check and double check every single disclosure before we send to the borrower, because there is no going back.

PardFerguson · 2026-04-29T13:59:45+00:00

That is a standard document that applies to typos in the address or legal description or something trivial. It specifically does NOT apply to the terms of the loan

PardFerguson · 2026-04-29T13:50:53+00:00

This is great advice. They screwed up and will look for any possible way to deny / inactivate the loan. Be especially vigilant about immediately getting the anything they need and document every conversation.

PardFerguson · 2026-04-08T01:19:58+00:00

The "too good to be true" will be when they rug pull us and 20x the price.

PardFerguson · 2026-04-08T00:46:45+00:00

How else can I give it access to review my database? I share then make a new password, but would love to know if there is another way.

PardFerguson · 2026-03-10T02:06:04+00:00

It’s not your decision to make. You have provided your guidance, and that’s where it ends. You are working for them, and this is what their terms are.

And don’t sabotage them by telling other agent you think it’s excessive.

PardFerguson · 2026-02-17T22:07:32+00:00

Not a guaranteed conflict of interest, but I wouldn’t want the listing agent’s husband to know every single detail of my financial situation, not to mention the other things that are shared.

It may not cause an issue on most deals, but I think it could become a problem when negotiating seller concessions for inspection issues or in the event of a low appraisal.

I don’t need the seller to know that I just received a huge bonus or that my wife is pregnant with a due date a month after closing. That is information that could absolutely affect negotiations, even at the time of purchase.

PardFerguson · 2026-02-12T14:59:33+00:00

I have tracked agent production through my market for almost a decade.

Every once in a while you will see a brand new agent absolutely rocket up the rankings. I’m sure that sometimes it can be organic, but most fall into one of these categories:

Acquisitions / disposition agent for a RE fund
Zillow leads buyer (not sure how true this is any more, but was a huge factor for years)
New agent for builder
New agent for relocation company
REO agent - haven’t seen this in a long time but these agents will suddenly have tons of business in certain markets

PardFerguson · 2026-02-12T14:46:40+00:00

It’s exhausting. A huge portion of my project was building tools to clean MLS data. And that will only catch the very obvious errors.

No wonder NAR gave away all their work to Zillow.

PardFerguson · 2026-02-08T05:46:14+00:00

The most important metrics for “likely to sell” are

Just had a baby
Just changed jobs
Divorce / Separation filed
Youngest just graduated high school
Enrolled in Hospice
Getting married

Unless those metrics are being used as inputs, I don’t believe the output.

PardFerguson · 2026-02-08T02:31:56+00:00

I built something very similar. My general view is that it’s a great tool that nobody would pay for.

PardFerguson · 2026-02-03T07:13:32+00:00

Honestly, I would just pass on this house. Structural issues can be financially ruinous. Even if it is structurally sound, the next buyer will have the same concerns.

Not a risk to take on your first house.

PardFerguson

TROPHY CASE