Hi all: I've been doing this business for over 2 1/2 years now and last Friday was the first time I actually thought about cashing my chips in. It really wasn't any better over the weekend or on Monday either. It all started last week with the rejection of an inspection by my client on a place he'd made an offer on. Then one of my other borrowers stopped returning my phone calls after we had the appraisal done, locked the loan, and just needed a couple simple documents to close.
I was ready to give it up. This is a business I love and have put my heart and soul into. There have been other challenging times within the last couple years but I have always endured. I reminded myself that things would eventually get better.
Tuesday of this week marked a turnaround. A loan that I thought wouldn't be possible now seems very doable. Plus, another refinance for a friend of mine looks like it will happen. The moral of the story is to keep going, stay focused, and do the necessary things to survive. We all know it's tough right now; I definitely have seen some great people leave the business. But I think if we endure, good times are just around the corner and possibly sooner than we might imagine. So my message to all of you is hang in there. Because your never know! Have an awesome day!
Paul
Paul McFadden
Good for you, do not lose your focus for the business, the markets are like woman, will go thru motions but in the end will calm down or get on good medication.
Paul - thank you for such an honest post. By sharing your thoughts, I'm sure many others have realized that they are not alone. I forget about how the lenders are affected by your market in the US and I want to apologize to you for that. Hang in there - the business needs the good guys to continue until.
Keep the Faith my brother!
Keep moving forward! I was fortunate to pick up two buyer representations this week and have notice that inquiries have picked up in our office these past few weeks here in Nashville. Good luck with your business!
Good Job Paul! Hang in there!
Thanks, Rich. I appreciate it. Have a great day!
Kenneth: Way to go. Thanks for your kind thoughts! Take care.
Scott: That has never wavered! I appreciate your pep talk.
Susan: Thank you! I wish you well up North. Have a fine day!
James: I appreciate your comments. Good luck to you in Beverly Hills!
May you all have a very blessed day!
Paul
Hi Paul,
I know things are challenging right now, and at times it can seem bleak, but it sounds as if you love being a mortgage professional, that is the most critical element. Because once you have a why, how deepens and enriches the story. Now when everything is seemingly crumbling down around us, is the time you can become a leader in your community and in our industry. The supply of purchases and refi's may be down, but the demand for leadership has never been higher. And the key to leadership is knowledge, the largest challenge we face right now is that people don't understand, they are rightly fully confused in this crisis, and leaves them stressed, worried, and afraid. As a mortgage professional you have the power to bring a light of understanding into this darkness. Remember you manage the largest asset and liability in any home investors portfolio and you have access to more information than any other financial advisor. If you harness the power of these two factors you can bring solutions to the financial challenges people in your community face. And in a time of crisis, everyone is looking for solutions to the unique challenges you face. The constriction of credit and the challenge of shifting guidelines is temporary, but the leadership you provide now can establish you for the long term as an advisor that people turn to in times of crisis and time of boom.
Now is one of the greatest times to be in the mortgage industry, becasue you can be a leader to so many, and a hero to some. I always loved this quote:
I asked for wisdom...
And God gave me problems to solve.
I asked for prosperity...
And God gave me brains and the strength to work.
I asked for courage...
And God gave me danger to overcome.
I asked for love...
And God gave me troubled people to help.
I asked for favors...
And God gave me opportunities.
I received nothing I wanted.
I received everything I needed.
In Wealth & Abundance,
Joshua Tree
Joshua: Thanks for your comments. Heartfelt thoughts along with a great quote mean a lot. Good luck to you today and every day!
Paul
Paul, this is good advice for all of us! Keep plugging!
Thanks, Patricia. I appreciate your support and wish you well!