Prior to the onslaught of Covid 19, I was thriving both personally and professionally. I survived the banking collapse era of 2008 and had just left a smaller mortgage company for a position as a Senior Loan Officer with a national mortgage lender. In a short amount of time, I more than doubled my income, grew my book of business, and was being recognized by my industry peers as a top producer. My kids were doing well in their private schools, and my husband and I were preparing to buy a house.

In 2020 and 2021, the aggression of Covid 19 brought historic drops in interest rates and my business went through the roof. I was earning a healthy six figures and as a result of the lockdown, we didn’t have the normal daily expenses. With the extra income and savings, I was able to pay off all my credit cards, saved more than six months of monthly expenses and we purchased a house. I wasn’t naive in thinking the constant earnings increase would continue at this pace, but no one could predict what was coming on the horizon.

The mortgage business was continuing to decline and the forecast for the real estate industry was becoming more and more cloudy. I was separating from my husband after 20 years of marriage and trying figure out how to reestablish life on my own. Throughout the summer of 2022 my job status was shaky due to the lack of business resulting from drastic increase to historically high interest rates.

Unfortunately, the mortgage market continued to experience shifting sands and I found myself involved in another company change - this time spearheaded by the lending team itself. Instead of continuing in this shifting employment cycle, I made the decision to venture out on my own. It was the right decision for a lot of reasons, but didn’t solve the immediate needs. My expenses were increasing exponentially, money wasn’t coming in, my assets and savings were depleted and I exhausted access to personal loans. In addition to this, the business expenses related to licensing and startup costs were beginning to stack up. Life seemed so sudden and all of it was mounting at one time.

Finally, in September I made the difficult decision to leave my company before the layoff hit my desk. Although panic had not fully set in, it was starting to show its’ face but I had to remain sure I would land on my feet. This was the impetus for creating my own path.

Panic attacks were becoming constant, doubt was creeping in and I was wondering if I should just get a job. Then it clicked. I recognized that through this whole period there were so many signs affirming I was on the right path. Yes, this period was mentally and financially painful, but I was surviving and I could see where all of this was going. I knew I had to be focused and strategic to navigate the choppy waters of this season.

Professionally, I frequently speak with people about the importance of financial health. I find that generally most, including myself, do the minimum to be ready for shifting seasons - which is guaranteed to happen.

One thing that is absolutely clear - preparation is a vitally constant task. It is my hope that by sharing my stories and experiences of 20 years as a real estate finance professional, I can help others prepare for all of the different seasons life offers and avoid some costly pitfalls.