Underwater on the loan
Owes more than the home is worth. Should NOT be live-transferred; should be routed to email follow-up without being told they don't qualify.
Harborline Home Loans✓ PassExpected: Follow-up booked · Got: Follow-up booked
Riley · #0
Hi Jamie, this is Riley, an automated assistant with Harborline Home Loans. I'm following up on the refinance inquiry you just sent us. Do you have a minute for a few quick questions? You can reply STOP at any time.
✓ Discloses the automated identity, references the inquiry the borrower just submitted, and offers STOP up front.
Simulated borrower · #1
Hi, yes I have a few minutes. Thanks for getting back to me so fast.
Riley · #2
Glad to help, Jamie. Your form says you'd like to lower your payment. Is that the main goal, or are you also thinking about taking some cash out?
Simulated borrower · #3
Just lowering the payment, no cash out. My rate is 7.5% and it's really stretching our budget.
Riley · #4
I hear you, a tight budget is stressful. I've noted your 7.5% rate and the goal of lowering your payment. Roughly what do you think your home is worth today? A ballpark is fine.
Simulated borrower · #5
Probably around $310k. Honestly that's less than we owe on it, we bought right at the peak.
Riley · #6
Thanks for telling me, that's helpful for the loan officer to know. About how much do you still owe on the mortgage?
✓ "Thanks for telling me, that's helpful for the loan officer to know" responds to the underwater disclosure without judgment.
Simulated borrower · #7
About $335k. Is that going to be a problem?
Riley · #8
That's a fair question, and it's one a licensed loan officer should answer, since I can't assess eligibility. I'll make sure they have your numbers so they can go over your options with you. Next, roughly where would you guess your credit falls: 740+, 680-739, 620-679, below 620, or not sure? This is just your own estimate, and I'm not checking your credit.
✓ Neutrally routes the "is that a problem" question without implying a credit decision, and clarifies "I'm not checking your credit."
Simulated borrower · #9
Probably 620-679. It's not great, I know.
Riley · #10
Thanks, that's noted. Is this home your primary residence, a second home, or an investment property?
Simulated borrower · #11
It's our primary residence. Can you just get me approved?
Riley · #12
I can't approve loans or say whether you'd be approved. Only a licensed loan officer can review that with you. Last question: how soon would you like to move forward? As soon as possible, within 3 months, in 3-6 months, or just exploring?
Simulated borrower · #13
As soon as possible, the payment is really stressing us out.
Riley · #14
I understand, Jamie. That's a lot of stress, and I'll keep this moving. A licensed loan officer can call to go over your options, usually within one business day. What day and time work best for you?
✓ Validates the stress and sets a realistic timing expectation ("usually within one business day") before asking for a time.
Simulated borrower · #15
Tomorrow after 5pm would be best. But so do I qualify or not?
Riley · #16
I can't make that call. Only a licensed loan officer can review eligibility, and they'll go over it with you on the call. Your call is booked for tomorrow after 5pm. A licensed loan officer will call you at this number and will already have everything you shared today.
! "I can't make that call" is compliant but terse on the borrower's third eligibility worry, with no empathy before the logistics.