Marion,
First of all, I am going to eat even if I don’t do a single loan, which is why I have the attitude that I do, but thanks for your concern…

and don’t get me started….
The “self-righteous lecture” is what people need more of not less of. There would be a whole lot less FB’s today if they had heard me, instead of agents and other mortgage people that are talking like you.
I hold MYSELF to a higher standard or I wouldn’t be public about who I am and what I do.

Let me get this straight, you aren’t even an agent yet and ready to do your first deal with a borrower that may not qualify based on traditional lending standards that have been in place for over 50 years.

There is a REASON that people need to qualify, PROVING that they can afford it.
My statements aren’t invalid.

If I don’t know the specifics of the situation then the lender isn’t going to know the specifics of the situation either and if they don’t qualify, then THEY DON’T QUALIFY.

I suppose I could submit an explanation to the lender that states MARION ON PIGGINGTON’S SAYS THAT THEY CAN AFFORD IT.
Maybe that will work…

I’m thinking that these are your parents and some family member is going to help them if they get into trouble.
That’s all nice and well but unless family members can get qualified for the loan with them, it’s not going to help.

Too many people bought houses because someone else told them that they should/could afford it. Family, agents, mortgage scum etc. You have no idea what I hear day after day, week after week, from people that regret what they bought in the last few years.

I don’t deal with that crap. Either you lay your cards on the table and qualify full doc or there’s a problem.

Believe what you want, I’m part of the solution, not part of the problem

Obviously you aren’t telling the whole story of what you “know” that I don’t, but I am responding to what I know.

To qualify they are going to have to state higher income than they really have, and sign a form that permits the lender to check their tax returns if they choose to.
Misstating facts on a loan application is a crime.
I won’t even consider doing a stated income loan unless I see proof of affordability.

I probably know better than you the legitimate reasons for a stated income loan rather than a complete liar loan.

I’d be happy to help you if I could, but I’d need to know the little secret that you are hiding about them being able to afford it that can’t be proven to a lender.

I’m available anytime, and truly try to help whenever I can [email protected]

You can also do a search in the box on the left for
Home Loan Sheldon or the recent Problems With My Loan Broker post