Due to an increasing amount of medical bills, Carol McGee was struggling to keep pace with the monthly mortgage payments on her home located in the mountains of North Carolina. A large medical debt made juggling the high payment nearly impossible, and the debt also stood in the way of a refinance. Reliance First Capital's Walter Wallace understood the family's extenuating circumstances and he helped them complete the refinance they needed, cutting their mortgage payments nearly in half and locking in a lower interest rate. A mountain of medical bills The family bravely faced these challenges, but the medical debt mounted. Dialysis, surgeries, hospital bills, at-home nurses, and physical therapist bills piled up in the mailbox. At the same time, they saw their home expenses double as the family spent all of their time there, using more electricity, gas, and water. More than just a house "We just could not continue to pay a $2,500 mortgage payment," continues McGee. "We had been in a high-interest loan for a long time, and each time we tried to refinance they wanted two payments up front and all kinds of documentation to explain why we needed the loan and why our loan-to-debt ratio was high." Cut payments in half It was a Catch-22: The debt was overwhelming, so the family needed a lower interest rate on the mortgage, but they couldn't get a lower interest rate because of the mountain of debt. McGee went online in the summer of 2012 hoping to identify a lending firm who could help them achieve their goal. One of the lenders they were matched with was Reliance First Capital. During the next few months the company made numerous attempts to contact the McGee's via phone calls and emails but unfortunately no connection was made. In early November of 2012, mortgage analyst Walter Wallace left the McGee's a voicemail and the next day Carol and Walter spoke. Wallace heard the need in McGee's story and understood their need to refinance their current mortgage which carried a double-digit interest rate! "After we explained all of our trials and tribulations, Reliance First Capital and Mr. Wallace really put all they had into helping me. I can truly say with all the experience that I have had in trying to secure a refinance and being unsuccessful, this was the easiest and least stressful process that I have ever experienced," says McGee "Thank you Reliance First Capital and Mr. Wallace!" With compassion and dedication, Wallace was able to help the McGee's secure a refinance which significantly reduced their interest rate and cut their monthly mortgage payments in half. Repeat business "I would recommend Mr. Wallace to any of my constituents as well as my friends," says McGee. "He is a great asset to Reliance First Capital and a person who really puts his clients and his reputation as a businessman first and foremost. He is such a pleasure to work with and does his absolute very best in all aspects to secure the perfect loan for you." |
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