I dare you to go ahead and answer your phone when your mortgage lender calls! Here's why.
1. They really need to know if you still live in your home
2. They would like to work out some sort of loan modification with you
3. They really do not want to foreclose on you!
A couple of weeks ago, I sat with one of my long time clients who was going though some tough times. He called me to sell his house because he was going to lose it. His wife left him and he got laid off from his job. He fell 6 months behind and couldn't see himself suffering any more.
Since he has been a long time client, I took a step back and talked to him a little more about his situation. I found out he just accepted another job that's paying him twice as much.
We sat down and mapped out his finances and he cut out a lot of fluff and doodads. He canceled his premium channels on his cable bill, decided to sell his truck and drive the car to work everyday, he had several products he ordered from home shopping network and was on the auto pay system to which he canceled. We found about $1100 more money for him to work with per month!
I grabbed his mortgage statement and started dialing. Of course, once I entered his info through the automated system, it sent me to the loss mitigation department where a live person answered the phone. Since I couldn;t talk to them about his situation, he HAD to talk to them. He explained his situation and about 10 minutes later, he was smiling after he hung up the phone.
I asked him what happened and he said," After I explained to them what happened and told them about my new job and new income source, they said they are going to send out a loan modification packet and all I have to do is sign it and send them what I can to pay down some of the past debt, and I can stay!"
So, 3 weeks later, he receives his packet, sends in a little money and he is on his way to a fresh start! His payments have gone down slightly and he is now current on his mortgagee.
I went to his house to sell it. I didn't get the sale, but I did get a great cheerleader and most of all, a great friend.
so go ahead and answer your phone, I dare ya! 
Good for your friend and good for you - building relationships and showing your professionalism to your friend will bring you business in the future
John,
Sometimes people just need a calm, caring pro like yourself to get them back on track. This is a win-win for everyone. Even though you didn't get paid it will come back to you many times over.
Your client's a lucky guy!
John, I commend you. I think as Realtors we have a responsibility to help our clients and friends make informed and right decisions. Plus I am sure you will receive back 100 times what you would have made on the sale of his home. Way to go!
Great job John! All to many would have just insisted on the sale & not have truly helped. I lend in CA & will ABSOLUTELY keep you in mind when I come across clients in need of your services there. Wishing you a quick sale man!
Josh-thanks man! That's good to know. Some of ourn lenders in our area are not that aggressive. Even in todays market! How sad.
John - YOU ROCK! Just a little bit of your time and you really turned this guy's life around. Good for you!