Download a FREE Ebook: Wisdom is knowing the real meaning of words.
There are a lot of horror stories in the mortgage segment. Here is a real short 2013 horror story in 479 words.
“I started working with [Name Deleted] as a subcontractor late last year. After retiring, it seemed the ideal job for a little added income. Little being the operative word. Schedule was to be flexible, inspections were priced at $3 -$5 each, with a promised unlimited amount of work available.
They held the first check back. Being paid every two weeks, that meant no money paid for a month.
The start-up expense caused me to sell one of my cars to purchase the laptop, camera, printer, paper and keep up with the transportation costs.
After two months of working I was still in the red, (being paid the second month for the first few inspections that were done), with the gasoline prices soaring (no mileage nor fuel reimbursement), and the tax burden was steep. The money was just about to start coming in when…bam! the work dried up to nothing. In two weeks there were only 20 inspections available to be done, most being more than 70+ miles round trip. Where’s the work I asked? All I could get from my manager was “…in theory by the end of the week.” So I just sat back and waited, and waited, and waited.
The inspections started to pick up, but everything was double work, manual entry & computer forms. Contact with Home Owners had to be made with no business cards, or recognition from [Name Deleted] , as I was a subcontractor. I finally gave my notice to management as the money tree had died, and I could not afford another gallon of gas. [Name Deleted] still had two outstanding pay periods they owed me for.
The notice of the pay due on March 4, 2013 reflected the fact that I owe them $49.00. Seems one of their major clients back charged them $25,000, so they decided to have their lowly paid, tax burdened, subcontractors help them out to the tune of $9,000! Can you imagine? Work completed & submitted as agreed, and without notice, all of a two week pay period (just a measly $350 + $49 more from the next check) is gone with no prior notice, just arbitrarily GONE!!
[Name Deleted] has some really nice individuals working there, don’t get me wrong on that. But the fact that Management can use field inspectors’ time, money & now earnings in such a manner is absolutely deplorable. I hope if any current or future [Name Deleted] subcontractors read this they will step back and give it a second look. It is a black hole that just gets deeper and wider the more you put into it. It is not a great opportunity to help you get by; it is a fast track to ruin.”