I guess i never really comprehended how ignorant some people truly are about life and how the US financial/borrowing system works till I met some people today. I build a few townhomes in the shephard/mid-town area so my office fields calls and shows the homes and I'll speak to people if they're ready to buy the home. Well yesterday a girl calls and views a home that we're asking a shade under half a million for. I talk to the person that showed the two girls the house and he said he didn't know what to make of them. Two girls, one black and one hispanic, both in their early 20's, not dressed well and coming in driving an older, beat up car. Yet they say they love the house and want to buy even after the asking price is reiterated at $499,000. So they come to my office this morning and I sit down with them. Here was the conversation after dispensing w/ the formalities: FDK: Ok, so whats your ages and do you plan on buying the house together? Girl 1: 23, yes Girl 2: 23 FDK: Ok so whats your profession? Girl 1: I work at a pizza parlor. Girl 2: I'm looking for a job FDK: Ok...so so you have any money to put down? Girl 1: Uh...not really Girl 2: uh no... FDK: How do you expect to buy a half a million dollar house w/ no money? Usually you put 5 - 10% down which is 25-50 thousand dollars? And you need very strong credit b/c you're monthly note + taxes and insurance will be over 5,000 a month. Girl 1: Thats a lot... Girl 2: We can afford that if we get another girl or two. FDK: Then being the nice guy that i was I gave them a 5 minute spiel about how the financial system works in this country and that those cards they send to you in the mail that you buy stuff on have to be paid back and that if you don't pay them other people won't lend you money.
LOL! Yah, that sounds like a candid camera thing, no way in hell two 20+ year olds are that stupid Anyways, you should have taken advantage of the situation, may be even ask for a 'ride ride'
You know FDK, if you change your last name, you could get people to call you FDR, how cool would that be? Just a thought
After she said Pizza parlor and $12 an hour, I was waiting for the punchline like yeah but I won the lotto or i sued somebody. And guys...they were not good looking...they were serious trash one girl had on air jordan? Its so funny because the person showing the house said they were so excited and were talking about the parties they were going to have etc.
Hey, I have a pair of air jordans. Does that make me "serious trash." No offense, Khan, but it sounds like you are just as hung up on how they looked as you are on the ignorance part. They clearly didn't get the home finance thing and that's pretty odd, but how they look, what they wear, what they drive and where they work doesn't make them any better or worse than anyone else.
I just mentioned their race. If they were white I would have mentioned that as well or if they were oriental or indian. I've had a few oriental's try to pull scams that ask us to inflate the asking price of the house to the lending company. And I really don't care what race someone is, but I view the way someone dresses, their speech and their mannerisms as how I percieve them. And when it comes to wasting my time in my office, then I will make judgements about their ability to purchase a home. If they were older, dressed better and didn't work at a pizza place, I may have not questioned their ability to purchase the home.
I wasn't judging them. But I was JUDGING their ability to buy the home. And my initial perceptions were 100% correct.
No it actually is. Haven't you heard of the 5 C's of a loan request? Character Capacity Capital Collateral Conditions Color Oh wait, I guess there's 6
