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HLS.
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February 16, 2008 at 7:32 PM #154616February 16, 2008 at 11:56 PM #154667
Deal Hunter
ParticipantWhile it’s true that mortgage brokers origninated tons of subprime loans, it was only possible because the Banks sponsoring HopeNow and Project lifeline spent many happy afternoons OFFERING all those lovely subprime loan programs and APPROVING all those loans. And because approvals and new mortgage products were being dolled out by the Banks, anyone who could fog a mirror got themselves a real estate license.
Well, most of those substandard agents have quit real estate to wait tables anyway. The ones left are the true professionals who know what they are doing. It’s just sad that homeowners are left to their own devices now with no one to help but these so called counselors in the HOPE Now and Project Lifeline circus.
In any case, former “a$$holes” can redeem themselves by doing their homework and advoating for the homeowner in ways that the banks and Hope Now will not. Don’t force homeowners to stay in upside down loans. Stop trying to take out more equity to cover bills. 2008 will be the year of Survial of the Cleverest in real estate.
February 16, 2008 at 11:56 PM #154389ParticipantWhile it’s true that mortgage brokers origninated tons of subprime loans, it was only possible because the Banks sponsoring HopeNow and Project lifeline spent many happy afternoons OFFERING all those lovely subprime loan programs and APPROVING all those loans. And because approvals and new mortgage products were being dolled out by the Banks, anyone who could fog a mirror got themselves a real estate license.
Well, most of those substandard agents have quit real estate to wait tables anyway. The ones left are the true professionals who know what they are doing. It’s just sad that homeowners are left to their own devices now with no one to help but these so called counselors in the HOPE Now and Project Lifeline circus.
In any case, former “a$$holes” can redeem themselves by doing their homework and advoating for the homeowner in ways that the banks and Hope Now will not. Don’t force homeowners to stay in upside down loans. Stop trying to take out more equity to cover bills. 2008 will be the year of Survial of the Cleverest in real estate.
February 16, 2008 at 11:56 PM #154679ParticipantWhile it’s true that mortgage brokers origninated tons of subprime loans, it was only possible because the Banks sponsoring HopeNow and Project lifeline spent many happy afternoons OFFERING all those lovely subprime loan programs and APPROVING all those loans. And because approvals and new mortgage products were being dolled out by the Banks, anyone who could fog a mirror got themselves a real estate license.
Well, most of those substandard agents have quit real estate to wait tables anyway. The ones left are the true professionals who know what they are doing. It’s just sad that homeowners are left to their own devices now with no one to help but these so called counselors in the HOPE Now and Project Lifeline circus.
In any case, former “a$$holes” can redeem themselves by doing their homework and advoating for the homeowner in ways that the banks and Hope Now will not. Don’t force homeowners to stay in upside down loans. Stop trying to take out more equity to cover bills. 2008 will be the year of Survial of the Cleverest in real estate.
February 16, 2008 at 11:56 PM #154690ParticipantWhile it’s true that mortgage brokers origninated tons of subprime loans, it was only possible because the Banks sponsoring HopeNow and Project lifeline spent many happy afternoons OFFERING all those lovely subprime loan programs and APPROVING all those loans. And because approvals and new mortgage products were being dolled out by the Banks, anyone who could fog a mirror got themselves a real estate license.
Well, most of those substandard agents have quit real estate to wait tables anyway. The ones left are the true professionals who know what they are doing. It’s just sad that homeowners are left to their own devices now with no one to help but these so called counselors in the HOPE Now and Project Lifeline circus.
In any case, former “a$$holes” can redeem themselves by doing their homework and advoating for the homeowner in ways that the banks and Hope Now will not. Don’t force homeowners to stay in upside down loans. Stop trying to take out more equity to cover bills. 2008 will be the year of Survial of the Cleverest in real estate.
February 16, 2008 at 11:56 PM #154768ParticipantWhile it’s true that mortgage brokers origninated tons of subprime loans, it was only possible because the Banks sponsoring HopeNow and Project lifeline spent many happy afternoons OFFERING all those lovely subprime loan programs and APPROVING all those loans. And because approvals and new mortgage products were being dolled out by the Banks, anyone who could fog a mirror got themselves a real estate license.
Well, most of those substandard agents have quit real estate to wait tables anyway. The ones left are the true professionals who know what they are doing. It’s just sad that homeowners are left to their own devices now with no one to help but these so called counselors in the HOPE Now and Project Lifeline circus.
In any case, former “a$$holes” can redeem themselves by doing their homework and advoating for the homeowner in ways that the banks and Hope Now will not. Don’t force homeowners to stay in upside down loans. Stop trying to take out more equity to cover bills. 2008 will be the year of Survial of the Cleverest in real estate.
February 17, 2008 at 12:03 AM #154677ParticipantIt’s worse than that. I’ve documented counselors telling homeowners to stop paying their credit cards and even health insurance in favor of their home loans.
Well, I try to tell as many agants as I can about this and get them to advocate for their clients. I’m glad there are people like you out there.
February 17, 2008 at 12:03 AM #154688ParticipantIt’s worse than that. I’ve documented counselors telling homeowners to stop paying their credit cards and even health insurance in favor of their home loans.
Well, I try to tell as many agants as I can about this and get them to advocate for their clients. I’m glad there are people like you out there.
February 17, 2008 at 12:03 AM #154401ParticipantIt’s worse than that. I’ve documented counselors telling homeowners to stop paying their credit cards and even health insurance in favor of their home loans.
Well, I try to tell as many agants as I can about this and get them to advocate for their clients. I’m glad there are people like you out there.
February 17, 2008 at 12:03 AM #154700ParticipantIt’s worse than that. I’ve documented counselors telling homeowners to stop paying their credit cards and even health insurance in favor of their home loans.
Well, I try to tell as many agants as I can about this and get them to advocate for their clients. I’m glad there are people like you out there.
February 17, 2008 at 12:03 AM #154778ParticipantIt’s worse than that. I’ve documented counselors telling homeowners to stop paying their credit cards and even health insurance in favor of their home loans.
Well, I try to tell as many agants as I can about this and get them to advocate for their clients. I’m glad there are people like you out there.
February 17, 2008 at 12:38 AM #154802HLS
ParticipantDH,
There are still PLENTY of scum left in the industry that continue to fleece borowers by overcharging them in rate to get a commission back from the lender AND overcharging in fees, without explaining to the borrower what their real options are.Sadly, many borrowers go to friends & relatives blindly trusting them. They don’t have to earn their business.
One sucker every other month will still allow them to make more than waiting tables or asking “would you like fries with that”Almost everbody has a price on their credit score. To some people it might be $1M, to others $10K would be enough to walk.
The neg-am loan will be the next shoe to drop. There should be lawsuits against those that originated those loans. The problem is that most mortgage scum didn’t even understand what they were selling, they only knew how huge the commissions were for pushing that crappy loan.
My guess is that for every dozen that are pushing loans, 11 of them don’t really understand the product nor how to figure out what is best for the client.
February 17, 2008 at 12:38 AM #154725ParticipantDH,
There are still PLENTY of scum left in the industry that continue to fleece borowers by overcharging them in rate to get a commission back from the lender AND overcharging in fees, without explaining to the borrower what their real options are.Sadly, many borrowers go to friends & relatives blindly trusting them. They don’t have to earn their business.
One sucker every other month will still allow them to make more than waiting tables or asking “would you like fries with that”Almost everbody has a price on their credit score. To some people it might be $1M, to others $10K would be enough to walk.
The neg-am loan will be the next shoe to drop. There should be lawsuits against those that originated those loans. The problem is that most mortgage scum didn’t even understand what they were selling, they only knew how huge the commissions were for pushing that crappy loan.
My guess is that for every dozen that are pushing loans, 11 of them don’t really understand the product nor how to figure out what is best for the client.
February 17, 2008 at 12:38 AM #154712ParticipantDH,
There are still PLENTY of scum left in the industry that continue to fleece borowers by overcharging them in rate to get a commission back from the lender AND overcharging in fees, without explaining to the borrower what their real options are.Sadly, many borrowers go to friends & relatives blindly trusting them. They don’t have to earn their business.
One sucker every other month will still allow them to make more than waiting tables or asking “would you like fries with that”Almost everbody has a price on their credit score. To some people it might be $1M, to others $10K would be enough to walk.
The neg-am loan will be the next shoe to drop. There should be lawsuits against those that originated those loans. The problem is that most mortgage scum didn’t even understand what they were selling, they only knew how huge the commissions were for pushing that crappy loan.
My guess is that for every dozen that are pushing loans, 11 of them don’t really understand the product nor how to figure out what is best for the client.
February 17, 2008 at 12:38 AM #154702ParticipantDH,
There are still PLENTY of scum left in the industry that continue to fleece borowers by overcharging them in rate to get a commission back from the lender AND overcharging in fees, without explaining to the borrower what their real options are.Sadly, many borrowers go to friends & relatives blindly trusting them. They don’t have to earn their business.
One sucker every other month will still allow them to make more than waiting tables or asking “would you like fries with that”Almost everbody has a price on their credit score. To some people it might be $1M, to others $10K would be enough to walk.
The neg-am loan will be the next shoe to drop. There should be lawsuits against those that originated those loans. The problem is that most mortgage scum didn’t even understand what they were selling, they only knew how huge the commissions were for pushing that crappy loan.
My guess is that for every dozen that are pushing loans, 11 of them don’t really understand the product nor how to figure out what is best for the client.
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