Two years ago  I had a nice little house for sale in Mission. Didn’t take very long and I got a call from a couple that drove by and liked the house enough that they wanted to view it inside and out.
After the first viewing they arranged for a second one.
The decision to put an offer on the property was made the same day and few hours later we had an accepted offer on the property.
The financing was obtained with some difficulty but the contract became unconditional and we moved on to the completion stage.
So until now the whole process went relatively smooth.

It all changed one day before completion when I got an unexpected visit from Alex, my buyer.
“I don’t have enough money for a down payment can you help?" I pinched myself just to make sure I wasn't in the middle of a nightmare. The next thing I did was cancel all my appointments for that day since, Alex became my main priority.
There is no Realtor in this world that wouldn’t get goosebumps after hearing what I heard. You see, my sellers had already bought their dream property, and the sellers of that one already bought something else too. So if Alex would not complete the other 2 families would not be able to complete either. 
Needless to say I was very motivated to help him. To make a long story short I was able to help them to find more $$$$ to complete the transaction but I never forget how I felt on that day.
In my heart I knew that they were overstretching their finances and they shouldn’t be buying  a house.

Last week I got a call. "Hi Tibor it’s Alex remember me?" I replied, "I am sorry can you tell me more about yourself?"
"Remember, you helped us to buy a house 2 years ago?"
 I remembered!

Alex said, "I have to sell now! Can you help me?"

I arranged an appointment to see him.
Here is what happened in the past 24 months.
He lost a job, got a second mortgage on the house to catch up on some big bills, then his wife couldn’t take the financial stress anymore so she left. Making the things worse the health issues he had made it impossible for him  to find a new job. He stopped paying the mortgage payments and the bank started to apply pressure.  That’s when he called me.

The point I am trying to make is this. His problems did not start 6 months ago. They only matured 6 months ago. He brought his problems with him 2 years ago when he bought his first house. He was not ready for a home ownership. It did not benefit him and it wont until he is ready for it.

Let’s learn form this Friends. Analyze your financial situation and your commitment to the better future and make sure that the home purchase propels you forward not backwards.
If you need help with this process call me.  I can help!

Tibor Bogdan
Your Realtor for life.