Forum Replies Created
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Pasadena Broker
ParticipantWell you guys are the smart bunch, especially you JWM. And as for some of the posters knowing more than me regarding what’s driving the credit bubble, that’s probably true. I never claimed to know more or less, and as I’ll quote, I don’t have a phd, are consider myself brilliant, but you sound like a smart guy so you probably have everything figured out. Kudos to you
And I’ll go on record to say that I won’t be drumming up any business from this site. Take it however you want. I have enough business in LA to keep me busy, most of the posters on here are from SD so don’t see me doing business down south. I meet all my clients, don’t do out of state loans, service my community which is mostly LA county. And on a personal note, trying to obtain business from a blog like this is like going on a online date, never been turned on to it and not my thing, I think it’s a little on the weird since we do reveal a level of our personal side. Ask temeculaguy about being outed when he walked into a sales office, it’s similar to that.
Aside from some free insight/opinions, I don’t give advice, find that on your own with a mortgage broker / loan officer you’ve met and I don’t mean over the phone either. Shake her/his hand and size up the person that’s going to be responsible for one of the largest financial investments you will be making. And if it goes Weimer, order longer checks to add all those zeros.
ParticipantNavydoc, you’re right on. It’s mind boggling. Personally, I call things for what they are, and alt-a is what I like to call fancy subprime. The loan scenario might be a little different in that the borrower has a better fico score, but that’s usually about it. Some have 5-15% to put down the others are riding on 100%. Will it have an impact? I think it’s going to be unbelievable. Most of these people got into these homes based on 2/28, 5/1, 7/1 arms or interest only, and keep in mind, we’re not talking about dumb people. Smart, Phd, high income people that felt that extra two hundred or more payment to get into a 30 year fixed wasn’t worth it since ‘we’ll sell in about 5 years’. They lacked some common sense and a little caution.
As far the economy, an old appraiser schooled me when I had the gleam of green being new in the business, said the US economy runs on 3 things, oil, the stock market, and California housing. I think the California housing is being a bit egocentric since we’re Californians, but to some extent when California is doing well, the rest of the US economy seems to follow (probably going to be some outer staters and others that are going to rip into me on this one). I think my old appraiser friend left out one more component, the consumer. The last time I checked 2/3 of our economy is based on someone in this country buying something. If you take a step back, and think about it, it’s truly amazing. We don’t sell much of anything or make anything (with the exception of big guns, planes, tanks and all the neat military hardware that’s designed to kill lots of people quickly). So here’s my take on it and I don’t have a phd or consider myself a brainiac by any means, just a regular guy with a few ideas, if the economy for the past 5-6 years was super hot because of rate cuts, people buying homes, buying stuff to fill those homes, buying toys to drive to those home, buying vacations from their homes and eating out instead preparing meals on their nice new granite countertops…and all this comes to a dwindle, I’ll leave the rest to your imagination.
Perry: “They are being saved. They are marginal buyers with spotty ability to pay. They should not be taking on mortgages in this declining market”
Should not is a relative term. People should not have take an option arm, should not have purchased more home than they could’ve afforded, should not play with matches. I don’t deal with the newby investor buyers since most are rank amateurs and anyone who’s going to sit across from me and tells me what loan is good for them and I think otherwise gets shown the door. The buyers I deal with are fully aware of the credit/housing bubble or whatever it’s going to be labeled after all of this. They buy based on necessity, mother/father are getting older and is living alone at home so daughter buys a place to move them a block away from them so they have more time with the grandson, or has long tem plans to stay in an area and wants to buy that sort of deal. Everyone’s motivation is different. The housing market is taken hits from different angles, but it doesn’t mean everyone just stops buying, maybe most on Piggington, but there’s a whole ‘nother world outside of this place with opinions to match. I have professional investors that have been rehabbing houses for years that will snap up a deal when it presents itself and no, they’re not listed on joe public mls. So great time to buy versus catching a falling knife? Well, that’s an individual decision and depends on what you want.
ParticipantNavydoc, you’re right on. It’s mind boggling. Personally, I call things for what they are, and alt-a is what I like to call fancy subprime. The loan scenario might be a little different in that the borrower has a better fico score, but that’s usually about it. Some have 5-15% to put down the others are riding on 100%. Will it have an impact? I think it’s going to be unbelievable. Most of these people got into these homes based on 2/28, 5/1, 7/1 arms or interest only, and keep in mind, we’re not talking about dumb people. Smart, Phd, high income people that felt that extra two hundred or more payment to get into a 30 year fixed wasn’t worth it since ‘we’ll sell in about 5 years’. They lacked some common sense and a little caution.
As far the economy, an old appraiser schooled me when I had the gleam of green being new in the business, said the US economy runs on 3 things, oil, the stock market, and California housing. I think the California housing is being a bit egocentric since we’re Californians, but to some extent when California is doing well, the rest of the US economy seems to follow (probably going to be some outer staters and others that are going to rip into me on this one). I think my old appraiser friend left out one more component, the consumer. The last time I checked 2/3 of our economy is based on someone in this country buying something. If you take a step back, and think about it, it’s truly amazing. We don’t sell much of anything or make anything (with the exception of big guns, planes, tanks and all the neat military hardware that’s designed to kill lots of people quickly). So here’s my take on it and I don’t have a phd or consider myself a brainiac by any means, just a regular guy with a few ideas, if the economy for the past 5-6 years was super hot because of rate cuts, people buying homes, buying stuff to fill those homes, buying toys to drive to those home, buying vacations from their homes and eating out instead preparing meals on their nice new granite countertops…and all this comes to a dwindle, I’ll leave the rest to your imagination.
Perry: “They are being saved. They are marginal buyers with spotty ability to pay. They should not be taking on mortgages in this declining market”
Should not is a relative term. People should not have take an option arm, should not have purchased more home than they could’ve afforded, should not play with matches. I don’t deal with the newby investor buyers since most are rank amateurs and anyone who’s going to sit across from me and tells me what loan is good for them and I think otherwise gets shown the door. The buyers I deal with are fully aware of the credit/housing bubble or whatever it’s going to be labeled after all of this. They buy based on necessity, mother/father are getting older and is living alone at home so daughter buys a place to move them a block away from them so they have more time with the grandson, or has long tem plans to stay in an area and wants to buy that sort of deal. Everyone’s motivation is different. The housing market is taken hits from different angles, but it doesn’t mean everyone just stops buying, maybe most on Piggington, but there’s a whole ‘nother world outside of this place with opinions to match. I have professional investors that have been rehabbing houses for years that will snap up a deal when it presents itself and no, they’re not listed on joe public mls. So great time to buy versus catching a falling knife? Well, that’s an individual decision and depends on what you want.
ParticipantNavydoc, you’re right on. It’s mind boggling. Personally, I call things for what they are, and alt-a is what I like to call fancy subprime. The loan scenario might be a little different in that the borrower has a better fico score, but that’s usually about it. Some have 5-15% to put down the others are riding on 100%. Will it have an impact? I think it’s going to be unbelievable. Most of these people got into these homes based on 2/28, 5/1, 7/1 arms or interest only, and keep in mind, we’re not talking about dumb people. Smart, Phd, high income people that felt that extra two hundred or more payment to get into a 30 year fixed wasn’t worth it since ‘we’ll sell in about 5 years’. They lacked some common sense and a little caution.
As far the economy, an old appraiser schooled me when I had the gleam of green being new in the business, said the US economy runs on 3 things, oil, the stock market, and California housing. I think the California housing is being a bit egocentric since we’re Californians, but to some extent when California is doing well, the rest of the US economy seems to follow (probably going to be some outer staters and others that are going to rip into me on this one). I think my old appraiser friend left out one more component, the consumer. The last time I checked 2/3 of our economy is based on someone in this country buying something. If you take a step back, and think about it, it’s truly amazing. We don’t sell much of anything or make anything (with the exception of big guns, planes, tanks and all the neat military hardware that’s designed to kill lots of people quickly). So here’s my take on it and I don’t have a phd or consider myself a brainiac by any means, just a regular guy with a few ideas, if the economy for the past 5-6 years was super hot because of rate cuts, people buying homes, buying stuff to fill those homes, buying toys to drive to those home, buying vacations from their homes and eating out instead preparing meals on their nice new granite countertops…and all this comes to a dwindle, I’ll leave the rest to your imagination.
Perry: “They are being saved. They are marginal buyers with spotty ability to pay. They should not be taking on mortgages in this declining market”
Should not is a relative term. People should not have take an option arm, should not have purchased more home than they could’ve afforded, should not play with matches. I don’t deal with the newby investor buyers since most are rank amateurs and anyone who’s going to sit across from me and tells me what loan is good for them and I think otherwise gets shown the door. The buyers I deal with are fully aware of the credit/housing bubble or whatever it’s going to be labeled after all of this. They buy based on necessity, mother/father are getting older and is living alone at home so daughter buys a place to move them a block away from them so they have more time with the grandson, or has long tem plans to stay in an area and wants to buy that sort of deal. Everyone’s motivation is different. The housing market is taken hits from different angles, but it doesn’t mean everyone just stops buying, maybe most on Piggington, but there’s a whole ‘nother world outside of this place with opinions to match. I have professional investors that have been rehabbing houses for years that will snap up a deal when it presents itself and no, they’re not listed on joe public mls. So great time to buy versus catching a falling knife? Well, that’s an individual decision and depends on what you want.
ParticipantSure, I’ll bite. Be more specific on what you mean by the ‘inside’, you want tales of sex and sleaze? Closest I got to the sexy was a well endowed title rep hanging her chest over my shoulder while she was trying to explain a title issue that I pulled up on my laptop.
Ethical environment, depends. Good and bad, anything that entails making a bunch of money over a very short period of time is going to attract all types of characters, but you already knew that. I’m clean, don’t need a soul cleansing. I’m on good terms with my God and contrary to what many might think, he’s not the one with a pitchfork.
Thanks in advance, but Piggingtons isn’t a place I really care about judgment. Does nothing for me personally, but gives me a place to chuck my 2 cents and a chuckle sometimes. Courage, I don’t have any of that if it’s defined as facing a particular situation not with the absence of fear but acknowledging it and moving ahead, this place is not where I test my metal.
So shoot, whatcha want to know.
ParticipantSure, I’ll bite. Be more specific on what you mean by the ‘inside’, you want tales of sex and sleaze? Closest I got to the sexy was a well endowed title rep hanging her chest over my shoulder while she was trying to explain a title issue that I pulled up on my laptop.
Ethical environment, depends. Good and bad, anything that entails making a bunch of money over a very short period of time is going to attract all types of characters, but you already knew that. I’m clean, don’t need a soul cleansing. I’m on good terms with my God and contrary to what many might think, he’s not the one with a pitchfork.
Thanks in advance, but Piggingtons isn’t a place I really care about judgment. Does nothing for me personally, but gives me a place to chuck my 2 cents and a chuckle sometimes. Courage, I don’t have any of that if it’s defined as facing a particular situation not with the absence of fear but acknowledging it and moving ahead, this place is not where I test my metal.
So shoot, whatcha want to know.
ParticipantSure, I’ll bite. Be more specific on what you mean by the ‘inside’, you want tales of sex and sleaze? Closest I got to the sexy was a well endowed title rep hanging her chest over my shoulder while she was trying to explain a title issue that I pulled up on my laptop.
Ethical environment, depends. Good and bad, anything that entails making a bunch of money over a very short period of time is going to attract all types of characters, but you already knew that. I’m clean, don’t need a soul cleansing. I’m on good terms with my God and contrary to what many might think, he’s not the one with a pitchfork.
Thanks in advance, but Piggingtons isn’t a place I really care about judgment. Does nothing for me personally, but gives me a place to chuck my 2 cents and a chuckle sometimes. Courage, I don’t have any of that if it’s defined as facing a particular situation not with the absence of fear but acknowledging it and moving ahead, this place is not where I test my metal.
So shoot, whatcha want to know.
ParticipantMorning all,
Guess this thread isn’t going to drift to the bottom anytime soon…
Allan from Fallbrook:
From the inside, last Friday was a bomb on the business. With the closing of American Home Mortgage, it spooked all the other lenders, that Friday was nothing but constant guideline changes and programs getting yanked. A good friend of mine was a corporate trainer, I called him on Tuesday and he sounded hopeful that IndyMac might buy them, but I didn’t have it in me to tell him that it probably won’t happen on such short notice. I post and read on a mortgage broker forum and from some of the threads on there it was a whine and cheese fest. Jumbo rates went up .75 to 1.5 depending on the documentation. Across the board, any non-conforming loan went up dramatically. I’ll give you an example, I have a client that’s purchasing a duplex, credit is a little shaky, has a nice sizeable down payment, stated documentation, and his rate with a particular lender went from 8.5 to 10.5 within one day. That’s crazy, it’s turned the alt-a business on its’ head.
The wall street guys see the volume of deals getting pulled and figure no biggie, the smarter ones are the ones connecting the dots. It’s a domino effect, that hasn’t drifted down to the market yet. Buyers in escrow that didn’t have locks on their loans got screwed, sellers that need to sell because they’re in escrow for another place got screwed, homeowners that purchased within the past 3 years on anything but a fixed rate mortgage got screwed, and so forth, you get the idea. It’s put a crimp on the business, but most don’t realize it because they haven’t felt it.
As for the business, the refi business is done, subprime and now alt-a is in the crapper, they’re still around, but not in the same fashion as they were before, which leaves conforming loans, first time homebuyers, and homeowners getting 2nd mtgs.. I have several other friends that are brokers in different areas and it’s the same with them. One of them is focusing on Helocs and stand alone seconds, while another is scrambling and worried since he can’t sell his loans on the secondary market that he funded with his warehouse lines. Brokers that had a gangbuster month in July that funded on their warehouse lines are probably going to be out of business soon. As for me personally, surprisingly I’m alright. The buyers I have, have solid down payments and credit. Some are first time buyers, others aren’t so and are buying due to changes in lifestyle (kids, divorce, the usual). Maybe because I’m old school, underpromise and overdeliver, go out of my way to make sure the client can stay in the house long term, have good working relationships with my realtors, have clients that don’t want me dead or wish I was in hell, don’t ride my appraisers for value, and whatever else. Me and karma are old friends and I don’t like pissing her off. I do what I feel is the right thing to do.Snail:
Was I talking to you directly, if you didn’t post, then it doesn’t apply to you does it? Or do you see yourself as the all encompassing forum? Great attention to detail, but you conveniently missed this “ I get calls from client referrals of people like her in the same exact financial position. Stuck, can’t rent, can’t sell, can’t refi” which makes me a stock broker??? Geography class called genius, says it wants you to teach it.ParticipantMorning all,
Guess this thread isn’t going to drift to the bottom anytime soon…
Allan from Fallbrook:
From the inside, last Friday was a bomb on the business. With the closing of American Home Mortgage, it spooked all the other lenders, that Friday was nothing but constant guideline changes and programs getting yanked. A good friend of mine was a corporate trainer, I called him on Tuesday and he sounded hopeful that IndyMac might buy them, but I didn’t have it in me to tell him that it probably won’t happen on such short notice. I post and read on a mortgage broker forum and from some of the threads on there it was a whine and cheese fest. Jumbo rates went up .75 to 1.5 depending on the documentation. Across the board, any non-conforming loan went up dramatically. I’ll give you an example, I have a client that’s purchasing a duplex, credit is a little shaky, has a nice sizeable down payment, stated documentation, and his rate with a particular lender went from 8.5 to 10.5 within one day. That’s crazy, it’s turned the alt-a business on its’ head.
The wall street guys see the volume of deals getting pulled and figure no biggie, the smarter ones are the ones connecting the dots. It’s a domino effect, that hasn’t drifted down to the market yet. Buyers in escrow that didn’t have locks on their loans got screwed, sellers that need to sell because they’re in escrow for another place got screwed, homeowners that purchased within the past 3 years on anything but a fixed rate mortgage got screwed, and so forth, you get the idea. It’s put a crimp on the business, but most don’t realize it because they haven’t felt it.
As for the business, the refi business is done, subprime and now alt-a is in the crapper, they’re still around, but not in the same fashion as they were before, which leaves conforming loans, first time homebuyers, and homeowners getting 2nd mtgs.. I have several other friends that are brokers in different areas and it’s the same with them. One of them is focusing on Helocs and stand alone seconds, while another is scrambling and worried since he can’t sell his loans on the secondary market that he funded with his warehouse lines. Brokers that had a gangbuster month in July that funded on their warehouse lines are probably going to be out of business soon. As for me personally, surprisingly I’m alright. The buyers I have, have solid down payments and credit. Some are first time buyers, others aren’t so and are buying due to changes in lifestyle (kids, divorce, the usual). Maybe because I’m old school, underpromise and overdeliver, go out of my way to make sure the client can stay in the house long term, have good working relationships with my realtors, have clients that don’t want me dead or wish I was in hell, don’t ride my appraisers for value, and whatever else. Me and karma are old friends and I don’t like pissing her off. I do what I feel is the right thing to do.Snail:
Was I talking to you directly, if you didn’t post, then it doesn’t apply to you does it? Or do you see yourself as the all encompassing forum? Great attention to detail, but you conveniently missed this “ I get calls from client referrals of people like her in the same exact financial position. Stuck, can’t rent, can’t sell, can’t refi” which makes me a stock broker??? Geography class called genius, says it wants you to teach it.ParticipantMorning all,
Guess this thread isn’t going to drift to the bottom anytime soon…
Allan from Fallbrook:
From the inside, last Friday was a bomb on the business. With the closing of American Home Mortgage, it spooked all the other lenders, that Friday was nothing but constant guideline changes and programs getting yanked. A good friend of mine was a corporate trainer, I called him on Tuesday and he sounded hopeful that IndyMac might buy them, but I didn’t have it in me to tell him that it probably won’t happen on such short notice. I post and read on a mortgage broker forum and from some of the threads on there it was a whine and cheese fest. Jumbo rates went up .75 to 1.5 depending on the documentation. Across the board, any non-conforming loan went up dramatically. I’ll give you an example, I have a client that’s purchasing a duplex, credit is a little shaky, has a nice sizeable down payment, stated documentation, and his rate with a particular lender went from 8.5 to 10.5 within one day. That’s crazy, it’s turned the alt-a business on its’ head.
The wall street guys see the volume of deals getting pulled and figure no biggie, the smarter ones are the ones connecting the dots. It’s a domino effect, that hasn’t drifted down to the market yet. Buyers in escrow that didn’t have locks on their loans got screwed, sellers that need to sell because they’re in escrow for another place got screwed, homeowners that purchased within the past 3 years on anything but a fixed rate mortgage got screwed, and so forth, you get the idea. It’s put a crimp on the business, but most don’t realize it because they haven’t felt it.
As for the business, the refi business is done, subprime and now alt-a is in the crapper, they’re still around, but not in the same fashion as they were before, which leaves conforming loans, first time homebuyers, and homeowners getting 2nd mtgs.. I have several other friends that are brokers in different areas and it’s the same with them. One of them is focusing on Helocs and stand alone seconds, while another is scrambling and worried since he can’t sell his loans on the secondary market that he funded with his warehouse lines. Brokers that had a gangbuster month in July that funded on their warehouse lines are probably going to be out of business soon. As for me personally, surprisingly I’m alright. The buyers I have, have solid down payments and credit. Some are first time buyers, others aren’t so and are buying due to changes in lifestyle (kids, divorce, the usual). Maybe because I’m old school, underpromise and overdeliver, go out of my way to make sure the client can stay in the house long term, have good working relationships with my realtors, have clients that don’t want me dead or wish I was in hell, don’t ride my appraisers for value, and whatever else. Me and karma are old friends and I don’t like pissing her off. I do what I feel is the right thing to do.Snail:
Was I talking to you directly, if you didn’t post, then it doesn’t apply to you does it? Or do you see yourself as the all encompassing forum? Great attention to detail, but you conveniently missed this “ I get calls from client referrals of people like her in the same exact financial position. Stuck, can’t rent, can’t sell, can’t refi” which makes me a stock broker??? Geography class called genius, says it wants you to teach it.ParticipantShe’s an investor, she got screwed. I showed a little compassion instead of jumping on the gloat bandwagon and jumped on, probably because I’m posting as a mortgage broker, or broker from the industry in general, maybe next time I’ll reg a handle like ‘hot blonde’.
People made dumb mistakes and it’s not going to kill her but it’s definitely going to set her back financially. If she was in an investment club, oh well, can’t blame anyone for trying to be the next Donald Trump or whatever real estate mogul, dare to dream, unfortunately, by the time anything is public knowledge, it’s too late.
I’ll admit it, we’re not the most popular people in the world right now. LO’s/Brokers, we’re getting blamed for being a part of the mess that’s been created. But I love how the more intelligent posters recognize the individual as the individual instead of lumping me in with the profession like the sheeple on this board. Which makes me chuckle, when most talk about mindless sheeple, it’s usually themselves, they just don’t know it. Guys/gals who give out those neatly typed zingers to prove their intelligence by attacking a poster based on his profession or personal opinion. Good show of your mental and emotional IQ.
Bugs, I think you’re the appraiser. I’ve read some of your posts and admire your honesty in the business. I’m anticipating the shakeout and looking forward to working with more professionals that are just that, professionals, instead of the cellphone/car sales guys that are screaming for value and are moving on (makes me wonder where they’ll land next).
Temeculaguy, I can see why you’re one of the more popular posters on this board. Articulate, and eloquent even as a stranger, it speaks volumes of a persons’ character and values. I truly wish you the best in your research and search for a home. I hope you find what you’re after. You were the only poster that expressed your idea in a fashion that wasn’t demeaning or argumentative, my hat off to you sir.
As for the rest of you yahoos…good luck in whatever you’re looking for, hope you find it. Lighten up, be glad you’re renting, got some money socked away, and when your time is right who knows, might be a good looking, halfway smart mortgage broker to help you find a non option, non interest only, non Arm loan…duh, right, they’re called fixed mortgages. I got to run, see man about a repo job, maybe I can talk the owners into giving me the keys instead of taking it late at night, ooops, almost forgot, need to sell my bmw for that nice 10 year old Yugo I saw on the drive home. Weren’t the Yugoslavs suppose to come out with a station wagon version called the Wego…..that’s what I heard.
ParticipantShe’s an investor, she got screwed. I showed a little compassion instead of jumping on the gloat bandwagon and jumped on, probably because I’m posting as a mortgage broker, or broker from the industry in general, maybe next time I’ll reg a handle like ‘hot blonde’.
People made dumb mistakes and it’s not going to kill her but it’s definitely going to set her back financially. If she was in an investment club, oh well, can’t blame anyone for trying to be the next Donald Trump or whatever real estate mogul, dare to dream, unfortunately, by the time anything is public knowledge, it’s too late.
I’ll admit it, we’re not the most popular people in the world right now. LO’s/Brokers, we’re getting blamed for being a part of the mess that’s been created. But I love how the more intelligent posters recognize the individual as the individual instead of lumping me in with the profession like the sheeple on this board. Which makes me chuckle, when most talk about mindless sheeple, it’s usually themselves, they just don’t know it. Guys/gals who give out those neatly typed zingers to prove their intelligence by attacking a poster based on his profession or personal opinion. Good show of your mental and emotional IQ.
Bugs, I think you’re the appraiser. I’ve read some of your posts and admire your honesty in the business. I’m anticipating the shakeout and looking forward to working with more professionals that are just that, professionals, instead of the cellphone/car sales guys that are screaming for value and are moving on (makes me wonder where they’ll land next).
Temeculaguy, I can see why you’re one of the more popular posters on this board. Articulate, and eloquent even as a stranger, it speaks volumes of a persons’ character and values. I truly wish you the best in your research and search for a home. I hope you find what you’re after. You were the only poster that expressed your idea in a fashion that wasn’t demeaning or argumentative, my hat off to you sir.
As for the rest of you yahoos…good luck in whatever you’re looking for, hope you find it. Lighten up, be glad you’re renting, got some money socked away, and when your time is right who knows, might be a good looking, halfway smart mortgage broker to help you find a non option, non interest only, non Arm loan…duh, right, they’re called fixed mortgages. I got to run, see man about a repo job, maybe I can talk the owners into giving me the keys instead of taking it late at night, ooops, almost forgot, need to sell my bmw for that nice 10 year old Yugo I saw on the drive home. Weren’t the Yugoslavs suppose to come out with a station wagon version called the Wego…..that’s what I heard.
ParticipantShe’s an investor, she got screwed. I showed a little compassion instead of jumping on the gloat bandwagon and jumped on, probably because I’m posting as a mortgage broker, or broker from the industry in general, maybe next time I’ll reg a handle like ‘hot blonde’.
People made dumb mistakes and it’s not going to kill her but it’s definitely going to set her back financially. If she was in an investment club, oh well, can’t blame anyone for trying to be the next Donald Trump or whatever real estate mogul, dare to dream, unfortunately, by the time anything is public knowledge, it’s too late.
I’ll admit it, we’re not the most popular people in the world right now. LO’s/Brokers, we’re getting blamed for being a part of the mess that’s been created. But I love how the more intelligent posters recognize the individual as the individual instead of lumping me in with the profession like the sheeple on this board. Which makes me chuckle, when most talk about mindless sheeple, it’s usually themselves, they just don’t know it. Guys/gals who give out those neatly typed zingers to prove their intelligence by attacking a poster based on his profession or personal opinion. Good show of your mental and emotional IQ.
Bugs, I think you’re the appraiser. I’ve read some of your posts and admire your honesty in the business. I’m anticipating the shakeout and looking forward to working with more professionals that are just that, professionals, instead of the cellphone/car sales guys that are screaming for value and are moving on (makes me wonder where they’ll land next).
Temeculaguy, I can see why you’re one of the more popular posters on this board. Articulate, and eloquent even as a stranger, it speaks volumes of a persons’ character and values. I truly wish you the best in your research and search for a home. I hope you find what you’re after. You were the only poster that expressed your idea in a fashion that wasn’t demeaning or argumentative, my hat off to you sir.
As for the rest of you yahoos…good luck in whatever you’re looking for, hope you find it. Lighten up, be glad you’re renting, got some money socked away, and when your time is right who knows, might be a good looking, halfway smart mortgage broker to help you find a non option, non interest only, non Arm loan…duh, right, they’re called fixed mortgages. I got to run, see man about a repo job, maybe I can talk the owners into giving me the keys instead of taking it late at night, ooops, almost forgot, need to sell my bmw for that nice 10 year old Yugo I saw on the drive home. Weren’t the Yugoslavs suppose to come out with a station wagon version called the Wego…..that’s what I heard.
Participanttemeculaguy, llnes,
I’ve been lurking on this blog for a few years, I think since 2005. I read the comments, and drama that unfolded with another poster (dow at 700). These little jab comments are nothing, if you think about what I do for a living and how it’s gotten tougher since last Friday with all underwriting guideline changes.
There’s always a few knuckleheads that want to add their 2 cent zinger on a forum, because it’s just that a forum. Nameless, faceless, blameless, more power to it. Repo man? Sure, send me an employer that hiring, I’ll do it for kicks and maybe I’ll learn how to hot wire a car or beat off a pissed off non paying owner.
I know of the pent up anger, however, blanketing general statements are dumb. Not everyone is in the same boat, and this comes to you from someone in the business, not standing in the sidelines and speculating.
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