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    Shoshanna

    Posted by Pamela Email on March 26, 2007, 8:04 pm, in reply to "Re: O.T. A Disheartening Time. . ."
    71.109.255.217

    "But not all of them were crooked"

    You are correct.

    My apologies!

    I shouldn't have inferred that all
    lenders and brokers etc. . . in
    the Sub-Prime business are bad.

    Sometimes, Sub-Prime loans are the only
    choices many people have.

    However, the Sub-Prime brokers and
    lenders that I have personally met (and
    wanted me to work with them) and others
    whom reputation I know, are anything but
    nice.

    These folks are Extremely shrewd,
    aggressive and take advantage of
    those in need and/or too trusting.

    But then, this description could fit
    many in the real estate and mortgage
    industries, as well as other fields
    (especially politics).

    However, It is just so astounding to have
    seen, all those homeowners simultaneously
    trying to sell their properties, back-to-
    back-to-back. . .


    Pam

    --Previous Message--
    : Pam, please don't jump to conclusions
    : regarding Subprime lenders. Maybe they
    : were just greedy investors out to
    : "make a killing". That's
    : exactly what drove up the prices here
    : in AZ! Many people are suffering for
    : that now.
    : I am certainly not a fan of Subprime
    : lenders. But not all of them were
    : crooked.
    : JMHO
    : --Previous Message--
    : I was in a particular city today
    : (one of my service areas), and it
    : was astonishing to see so VERY
    : many "For Sale" signs. On
    : one street
    : alone I counted approximately twelve
    : homes!
    :
    : I was in that area about ten days
    : ago.
    : Although there were the usual
    : "For Sale"
    : signs sprinkled about, it was nothing
    : like I saw today.
    :
    : On just about every block, there were
    : three or more signs. What makes this
    : particularly interesting, is that
    : many of
    : these properties were also marked
    : "just
    : reduced" or "priced for
    : quick sale".
    :
    : I know this area very well and
    : remember
    : a few years ago, when it was a
    : seller's
    : delight! During that time, many of
    : these
    : homes, (in my opinion) though very
    : nice,
    : were price Much too high.
    :
    : Now it seems as though these home
    : can't
    : even be given away!
    :
    : Though I do not have proof (without
    : actually researching the county
    : recorder's office), I suspect many of
    : these homeowners are victims of the
    : Sub-prime lending and/or
    : "creative
    : financing" fallout.
    :
    : I wonder how many of these Sub-Prime
    : Lenders and Mortgage Brokers are
    : having
    : to face the same situation? Probably
    : zero
    : (if that much).
    :
    : [And yes, I know that many of these
    : lenders etc. . .are
    : "closing-shop", but
    : I am very sure, that THEIR
    : residential
    : properties (for which they are
    : actually
    : living) are not facing foreclosure.]
    :
    : It is really a disheartening time for
    : many.
    :
    :
    : Pam
    :
    :
    :
    :
    :
    :
    :
    :
    :

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