Clay Johnson: Hi guys, Clay Johnson here with Castle & Cooke Mortgage and with Cheryl Knowlton with Dynamite Productions. We wanted to talk because we just last time talked a little bit about what are some different methods that we can utilize the bank statement loan program and how that works. And you have a situation that you wanted to kind of talk a little bit about. Or some circumstances that you’ve seen.
Cheryl Knowlton: Oh my goodness. Absolutely, and John, your fabulous partner.
Clay Johnson: Amazing.
Cheryl Knowlton: Yes. And I talk about this a lot when we’re teaching, especially the Seller Representative Specialist course, that as seller representative specialist, you want to future pace that situation with your seller, make certain they are preapproved to buy when they sell their home. Otherwise what are we doing? We’re facilitating homelessness, which is not in your job description. Please don’t do that. So as real estate professionals, make sure you know this, that Clay is about to share with you, for yourself and for your sellers.
Clay Johnson: Yeah. See, a lot of times with the selling they’ll say, “We’d love to sell and get into something else. We just know because we’ve been down this road that on our taxes we don’t show enough income to sell our home because then we’re not going to buy something new.” Hence the homelessness. And so when you can confidently say here’s a program through the bank statement so you can document your income, you’re going to have enough equity in your house for a down payment on that loan program, and you will be able to get that loan with a 100% confidence, makes all the difference, because then you’re being responsible about helping them sell the home with absolute certainty that they’re going to be able to get into that next property.
Cheryl Knowlton: Absolutely. And then they get two transactions out of it, right?
Clay Johnson: Yes. Yes.
Cheryl Knowlton: Which makes you happy and your client happy.
Clay Johnson: Hope that helps, guys. Any questions, as you know, message us below or give us a call. And we’ll talk to you soon.
Cheryl Knowlton: Bye-bye.
Clay Johnson: Bye.