| I just got off the phone with a woman who inherited a house that has a home equity loan. Her name is Olivia and when she first contacted me she was confused, lost, and in total despair. This property not only has a first lien mortgage, but it also had a home equity line, and both notes have monthly payments that are delinquent. When her uncle, Benjamin, was alive he was very responsible with his finances and was always on time with every payment. He had established an equity line of credit because he owned a lawn care business and he was able to draw from that line of credit to purchase and maintain needed equipment for his company. Benjamin sold his business about one year before his passing and decided to gift a large chunk of the proceeds from the sale of that business to some of his loved ones. I believe that as probate professionals, we are at our best when we come alongside these inherited homeowners and provide a sense of calm and safety for the seller. This will create an opportunity where they can open up and share the challenges that they are experiencing. It took a while for Olivia to feel comfortable enough with me to open up and share all of the challenges she was experiencing with this probate matter, and in turn, I was able to respond with a set of solutions that could bring her instant peace of mind. I helped her contact the lenders and begin to make arrangements to prevent this property from having a notice of foreclosure filed against it. I was a voice of reason for Olivia and that was a starting point of support that I could help her with. Olivia and I are now exploring options for the sale of her house. It is important to genuinely care about the well-being of the seller. Am I going to buy the property? Maybe. But only if it’s what is best for Olivia. We might discover that her best option is to list the house. People nowadays have finely-tuned B.S. detectors. They can sense if you are looking out for their best interest or just trying to make a quick buck. But you can’t turn your concern on and off from deal to deal. Your concern for the seller needs to be part of who you are, through and through. If you are a true caring probate professional always looking out for the best interests of your potential clients, you will always find yourself abundant in seller opportunities. Committed to your success, Ernie “My Seller Comes First” Vargas | The Probate Fox |
June 3
0 comments
