LBW 05: The Impossible Loan

Disclaimer: This audio does not imply a recommendation to invest in real estate. These purchases turned out to be costly mistakes at the height of the real estate boom. But I share it to illustrate the point that the solution to every problem is only an idea away. A secondary lesson learned is to be careful what you pray for, because you just might get it! 😉


LESLIE: Years ago, my husband and I made the mistake of trying to purchase two investment properties and refinance our primary residence all at the same time. The first home went through relatively easily, but the second home was tough. They kept coming back with hoops that we had to jump through, telling us we had to show outrageous amounts available in certain accounts that also had to be seasoned for so many months, and, each time we managed to jump through one hoop, they came back with yet another. Originally, they only needed to see X amount in the bank for closing costs and three months’ worth of payments in reserve; then it turned into something like X times two and six months in reserves, which eventually stretched to twelve months plus a letter stating we weren’t accruing more liabilities ̶ even though they already knew we were. It finally became impossible to do what they asked; we had done all we could do.

Then a simple thought came to mind: “we don’t have to do everything they’re asking. All this would take is for one person in underwriting to simply have a change of heart.” Suddenly it all seemed so simple, because it was going to be so much easier for us to pray for one person’s heart to change than to pray for another twenty to forty thousand dollars to show up in our account by the next day with a viable explanation as to where it came from. We let them know that we would not be providing them proof of the funds they were asking for. The next day, our loan officer called and said they had one simple token request and it would be a done deal; there was no more mention of the large sum of money they had wanted before, and it all finally went through.

So, what’s the point? Belief. Do what you can, and then say to yourself, “this is just going to have to be good enough.” Can you see how thinking this way is in harmony with the laws? If we think we aren’t doing well enough, and if we think that our inadequacy will prevent us from succeeding, then we’re right. But trust God to fill in, believe that he will, and you’ll succeed.

ANNOUNCER: This has been a little bit of wisdom with Leslie Householder. Listen to her podcast and download her books free at

Leslie Householder

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