Welllllllllllll,
Did you read the last post? Indymac is HISTORY. I guess they are trying to beat Starbucks with the single most layoffs on a single day. (3200) Is this the end of the giant mortgage loan companies. Remember mortgage implode.com? Start a new round of mortgage meltdowns.
If there was ever a time to be in the mortgage modification and foreclosure business it is now. Conventional loans are at the end of banking "things to do" list. The new loan programs for mortgages will be a spin of FHA style loans. (Is that enough "key" words) Inside joke.
Back to the real reason to post. Up to date I have been right on target with my predictions. I guess I should charge and sell tapes and make millions.
Anyway, tip for the day. Dont let the lenders off the hook. Some lenders are "shutting" down their mod departments. Write your congressman or represenative. I thought congress was going to bail the consumer out of this mess. Car 54 where are you?
Looks like we should address the bank presidents as Mr. President. Seems they are pulling the strings and are going to "set" U.S. policy on this matter.
I strongly suggest you "mod" you loan before it dries up. Take a look at the FAQ's on this site and get your financial plan in motion. I have yet to see a deer that was hit when running on the other side of the highway. You have heard of the "deer in the headlights look". The lenders know this look and take advantage of it. One of my favorite quotes (mine) is "a bad plan is better than no plan."
Start ANY plan ASAP. It will help you sleep at night while the banks are moving $$$$$$$$$$ around the world and making BILLIONS every day on your float. Funny how it takes 3 to 5 days to clear a check (or more) but banks clear your check and get instant credit??????????
I have to have add a disclaimer: sometimes I write these blogs without checking grammar or spelling. I am reminded everyday. (seems everone is an english major now adays)
Tips to get loans, personal and business loansEntrepreneurs, particularly start-ups, when budgeting for their business often focus on the amount that is absolutely necessary to start their business without accounting for working capital or cash for contingencies. This is dangerous because lack of working capital can mean the death knell for the business.
On the other hand, some entrepreneurs, again start-ups, drastically overestimate their costs. This will make lenders not only question the entrepreneurs’ assumptions, but also question whether they know what they are doing.
http://gewdir.com Information on Loans with Bad Credit Blog
Posted by: David | September 14, 2008 at 07:19 PM