I just got back from today’s Downtown Caravan and hope I didn’t confuse everyone with my silly math equations. If you were not there, you missed getting to see me brush up on my Mathlete skills from my younger days in Chicago. There appeared to be a few scrambled faces at the beginning of my spiel but, by the end, it seemed as if most people were following along, laughing and even shouting out answers before I could jot the equations on an easel!
By using a little funky math, I was able to demonstrate that, although a client or friend has suffered financial hardship, such as a short sale or foreclosure, there are different waiting periods depending on the type of loan and circumstance in order to determine eligibility. Some clients could be eligible sooner than you think. For example, more money down can lead to shorter waiting periods, 2-3 years, after a short sale. Depending on the circumstances, the eligibility date can vary for both foreclosures and bankruptcy.
The bottom line is that it’s never too early to look back into your database, think about the clients and people you know that went through financial hardships and let them know what’s available for them (and then call me).
I would also like to give a special shout-out to Glenn Erath with Corky’s Pest Control and Affordable Shared Advertisting for coming up with an awesome little jingle to summarize my presentation and humor the audience as well.
Click here to view the waiting periods required for significant derogatory credit events.
Listen to Glenn’s jingle, The ABC’s of Real Estate
