–you get nice green cash money, you win!
–you increase the amount of tax deductions, you win again!
–you spend more money, retailers win!
–the retailers increase profit margin, the stock holders win!
–the mortgage broker gets a fat commission and fee, the broker wins!
–escrow, title, and appraisers all get more work, they all win!
–the mortgage broker buys more, so does the escrow officer, and the appraiser, the retail sector wins again!
–when the retail sector wins, transportation sector, importers, and manufactoring all win!
–in other word, everybody wins!
“We all should be proud as an industry,” Michael W. Perry, chairman and chief executive of IndyMac Bank, a lender in Pasadena, Calif., told his peers at the Mortgage Bankers Association’s annual convention in Chicago recently. “We have created an enormous amount of wealth for Americans.”
Your right debt is not wealth. I don’t even consider a home to be an asset unless its paid for or your renting it out with positive cashflow. A mortgage is just another bill with the posibillity of the home going up or down in value.
I think they’re from “Crestline Funding”. Soon to be named “Crustline” in honor of what all those neg-am ARM holders will find in their shorts after they receive those nice payment adjustment letters in the mail…
Howland’s a nice town if you ask me. My sister lives there and if we head back for some reason, I think that’s where we’ll wind up. We moved here from Lordstown, and the kids are going to be big and athletic, and Howland at least has football. Nice community spirit.
However they could stay here, and wind up at LCC or Santa Fe Christian who knows. I am not worrying about it, the wife kids like it hear, and they like Howland as well, so either way it’s all good.
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