Saturday, November 18, 2006
Friday, November 03, 2006
I didn't like the direction the industry went the last several years. I thought ARMs (adjustable rate mortgage), Option ARMs and Interest Only loans were wrong for most consumers and only did one ARM loan for a Borrower. Period. Next year a million ARM loans will be reset to reflect today's interest rates and we may have interesting results...but I’ll step off my soap box.
Three years ago I decided to become a Foster Care Provider for Wall Residences, LLC. We built an addition to our home in 2004 and my husband and I took classes to be licensed. I provide training and support for an adult with a physical and/or intellectual disability. When our first client moved in August 2005, I initially thought my mortgage business would close by year end. We quickly learned the importance of the right match--and were thankful when our client was relocated in October, six weeks later. I made a half-hearted attempt to plod on; I advertised and told everyone that I was still doing loans, but I was miserable. My negative energy must have transferred to my business because I had a slow year.
Our next client moved in last June. We had met him prior to meeting the client-that-didn't- work-out and felt instinctively that he was the one, but then had to wait until he was ready. We are several months into a positive, long-term working relationship. This job is far more rewarding to me than doing mortgage loans was and it’s a step in the right direction--to soothe my soul. It doesn't hurt that I earn a monthly paycheck--which is a welcome breath of fresh air.
I’m settling into and accepting my decision to close my business. More than anything, I feel relief. I’m moving forward. I don't know when the next open door will appear; but I'm older and wiser--let's hope--and have finally learned that it's time I pursue my deepest interests while I also allow myself to just "be," an important part of the process and a bit new to me. One day down the road I may start a new business, but as of October 31, 2006, the Mortgage Broker door is shut. Closed. Finis. I'm not open for business. Wahoo!