After reading the post about "Heroes" it got me to thinking about this recitation that Red Skelton did in January of 1969.

For all those that remember Red Skelton, I feel that he was one of the greatest people ever...   As a child I loved his show and he was always such a wonderful genuine person and again as a child , I still remember vividly that when he was closing his show he would always end it with saying "God Bless"

In January 1969 Red did this recitation of the Pledge of Allegiance. 

http://www.poofcat.com/july.html   (copy and paste into your browser)

For those that believe in the Pledge of Allegiance this will most likely hit home for you... 

If this offends anyone else...too bad...   I am a flag waving patriot and I believe in the Pledge of Allegiance and I think that we as an American people are getting to "politically correct" with this debate over state and religion... 

 I hope this is as enjoyable for you as it is for me.

Hello Rainers...

 I thought for all of you out there I would post this for your information.

For the REALTORS out there, I don't know how much you may be keeping up with all that is going on in not only the subprime mortgage industry but also with the conforming lenders...  There is a huge shakeup going on across the board and it will not only affect us in the mortgage industry but it will also affect how REALTORS are able to business too.

 Not wanting to be a pessimist, but rather a realist...It sounds like things are going to be shaky for awhile until all the dust settles...

From what I am hearing right now....many lenders have pulled their 100% financing programs, they have pulled their Stated income programs, they are limiting the Loan To Value to 90 - 95%, they are cutting back on the allowable Debt To Income Ratio, Interest rates for any type of "higher risk loan" are going to be way higher than they ever were before, basically, anyone with a credit score below the 600's are not going to be getting very good rates at all.......etc...etc...   to top all of this off...  again from what I am hearing...that home values are predicted to drop again...  although I have no verifiable information on this yet..(maybe someone can pipe in on this) There will still be the 100% loans (with good rates) from Fannie Mae and FHA but the Debt To Income Ratio is capped at about 43%.

Anyway, there is a website that is tracking all the current lender closings and any other problems they are having...it is very interesting info and it is updated just about every day with anything that is currently happening. I highly suggest that REALTORS and other mortgage professionals alike read through it and update yourselves on these happenings...  mortgage brokers, you may find of your favorite lenders on the "defunct" list soon..

link--->   http://ml-implode.com/          (copy and paste this into your browser since I haven't figured out how to put in an active link yet)

 Kevin