If you’ve ever tried to purchase your own home, you can understand the high emotional and financial cost the entire house hunting and purchasing process can have on a first-time buyer. Just the mountain of paperwork and demanding credit history checks, alone, are almost insurmountable obstacles for any anyone no matter where they live. Simply put – home ownership is seldom an easy process.
But what if you had to add the fact that you are homeless? And you are a military veteran with post-service scars? AND you are short on the money needed to secure the loan or guarantee the contract? If this were you, I’d say there was a real good chance you weren’t going to get into a house anytime soon.
Unless that is, you happened to be working with Matthew Matheny. Matthew is a career loan consultant with Loan Depot in Illinois. And Matthew took the time and effort to share some kindness with another human being when it would have been much simpler to turn and look the other way.
You see, about a year ago, Matthew Matheny gained a new client. Paul (not his real name) was homeless, had almost no credit score, and was one of the most unlikely of candidates for a home loan that Matthew had ever met. Matthew described the situation as dire. “We had him open a credit card and an auto loan,” he explained, to help get the ball rolling. “The vet was homeless for the better part of a year [and he] didn’t have much faith in banks and did not have any kind of checking or savings accounts that could be used to validate [his] assets.”
Instead of getting annoyed by Paul’s numerous shortcomings, Matthew got determined. Soon, there was a VA underwriter who joined him in his social cause. And then his manager offered his valuable assistance. And finally, an understanding department head gave the final stamp of approval.
There were still more potholes to navigate, though. But when Paul lacked proof of residency, Matthew didn’t flinch, he found a solution. When the underwriters demanded 12 months of rental history, Matthew didn’t balk, he made a way by convincing the underwriters to trust his judgment. He was Paul’s unshakable advocate, unfailing friend, and his staunchest advisor.
“I worked with the selling realtor directly,” Matthew recalled towards the end of the journey. “And the seller agreed to cover the closing costs in the price of the house!” Now Paul would not have to bring any cash to the table. And, would you believe it, the sellers even agreed to stay in the local motel for an additional week to give him time “to iron out all of the kinks.”
“Getting this done [for Paul] was nothing short of a miracle and I likely spent more in gas than I made as a commission meeting him in person every time we needed to do something, “ Matthew said with fondness. “He was sleeping in his van. That means no internet, no computer, no printer, literally everything had to be done by hand.”
But it was done. And, at long last, all the paperwork was in order. Matthew made a last minute call, double checked his figures, crossed all his Ts and dotted every I before turning off the lights and locking his office door.
Paul was homeward bound.
<img src=”donatenowlogo3.gif” alt=”HTML tutorial” style=”width:42px;height:42px;border:0;”>