Keeping Up to Date
Posted December 27, 2007
One of the ways I want to help others is by keeping up to date with what is going on in the news. Especially news that is related to mortgage and finance. To do that, I recently changed my home page on my browser to Google and requested News to be posted on my home page.
It did not take long however for me to change that! The news today is just depressing! And honestly, most news is not just news!
In 2007, we saw the mortgage industry turn up on it’s ear. Lenders filed bankruptcy and closed. Wall Street dropped the subprime mortgage industry like it was a cancer. Underwriters came under fire and thier guidelines have been tightened. And the news media had a field day!
Everywhere you looked, mortgage brokers, builders, real estate agents, banks… you name it, were all painted as Enemy #1. Everyone was out to screw the consumer and we all pointed fingers. And yet, 2007 had some great bright spots!
Now at the end of 2007, heading into 2008, we in the industry are hoping that cooler heads will prevail. Now that the major bleeding and shock is behind us, we can all see a time of healing ahead. That’s not to say there won’t be more shocks along the way. But the industry will reset itself and life will get back to normal.
But normal will look a bit different.
Lenders will use more common sense. Borrowers will need to actually QUALIFY for the home they want to buy. Banks and Brokers will actually be required to use some TRUTH when they advertise.
The Ed Nailor Mortgage Team is still dedicated to educating, inspiring and assisting in the American Dream. We stand firm in our convictions and steadfast in our determination to help every client we can achieve their goals. So ignore the news… nothing good will come from it anyway. Let the mortgage experts of the Ed Nailor Mortgage Team help you get approved to buy a home. Call 704-651-8704 or visit www.EdNailor.com
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