A story of foreclosure ... and lessons learned
Matt Stigliano, a real estate agent in San Antonio TX, lost his home to foreclosure and shared what happened to him with lessons learned not only for other real estate agents but that everyone can learn from.
I've written about and seen a lot of foreclosures for sale in Charleston. Some homes were trashed by the former homeowners who apparently took their anger at being foreclosed out on their home while some others left their home in very good condition.
What's the story behind the story.
Did they take out too much of a loan. Did they use their home as an ATM machine and finance a lifestyle. Or did a job loss, reduction of income or health problems causing large medical bills result in their inability to continue to pay their mortgage on time.
Since the banks have been generally unwilling to work with distressed borrowers to find a solution to keeping them in their homes (and all efforts by the government to force banks to work with distressed homeowners have been nothing short of dismal failures), the likelihood is that more people will have to face foreclosure in the months and years to come.
A lesson of compassion.
Matt was a brand new real estate agent. It's obviously tough getting started in this business. He did not use his home as an ATM machine. And he offers the lesson he learned for working with clients in difficult circumstances.
"No wild spending sprees, no million dollar home, no boats ... even our car was modest (we actually traded in our BMW for a Honda when we moved here).
The concept I want to stress? Compassion. The people you work with all have stories. They have their reasons, their beliefs, and their hopes and dreams. Be mindful and compassionate toward those stories. Take the time to get to know your client, you never know how much they might be just like you or be in need of your help." Read Matt's poignant story.
And as Lesley Lambert said so elegantly, there but for the grace ...
Photo courtesy of flickr by respres