Does this sound like San Francisco to you?
“Oh, for your information, that explanation letter that went on for 4 pages of hand written legal paper regarding the borrower’s woes over the last 10 years of absolutely hideous credit reflected on their credit report, actually sank the deal. After 10 relatives died, 100 trips to the hospital, and 14 jobs lost……I see a pattern, and it ain’t going to stop. The 5 “R’s” were not met, go look that up with an old timer. They still have 8 pages of unpaid collections, charge offs, judgments and nothing re-established that is actively being reported for the last 12 months as paid as agreed. Oh that 4 month car payment history (did not redeem them) shot them in the foot. Now they have some serious payment shock with the proposed house payment in conjunction with that new car payment – never mind their rent was 350.00 per month – the new house payment is 1560.00 per month. They never paid anything else on time, what makes you think I am so gullible to think that they will pay this house payment, if frankly ever.”
I get real cranky having to decline over 60% of what I’m looking at, real cranky [Loan Modification and Loan Workout News]