CHARLOTTE, N.C - At the North Carolina offices of mortgage lenderHomeBanc Corp., Archie Clark is the only employee left. But in a few days, he'll be gone, too.

"It's pretty much a ghost town over there," Clark said. "Somebody went in and took the furniture from the lobby. I don't know who did that. I put some of the other stuff in the back and locked it up."

When Clark finishes helping movers from the company's Atlanta headquarters collect computers and other property, he'll join the more than 25,000 workers nationwide who have lost jobs in the financial services industry since the beginning of the month - with more than half coming since last Friday. With few exceptions, the cuts are the direct result of woes in the nation's housing market.

 

38,000 jobs lost across the country. was the headline from this article.  Button down the windows a storm is coming.  Let just hope warren can get a good buy at countrywide and save these lenders from themselves. 

 
This post has been included in Colorado Information Larimer County, CO Information

9 Comments on More Scary. (additional thoughts) Part 3 Will this end?

AUG
22
2007
15 Featured Posts

It's a good time to be a mortgage broker instead of a mortgage banker.  I know that bankers and retail guys often looked down on brokers with disdain.  But here's the reality, like a real estate agent, most brokers can run a tight ship, keep overhead lower and still maintain fairly good service with their clients.  They also have access to allot more options then someone who's working with ONE bank.

 

6:56pm • #1

I feel for all those out of a job because of this crazy downslide market we are in.  When is it going to stop!  I wish him well.

6:59pm • #2
5 Featured Posts
Hi Marcus -- My heart breaks for these folks.  It is so sad what has happened to them and thorugh no fault of there own.  Aloha
9:23pm • #3
AUG
23
2007
372,926 Points 3 Featured Posts Outside Blog
It is a very scary situation.Reminds me of the Savings and Loan crisis of the 80s.Hope it will end soon.
8:11am • #4
AUG
24
2007

Marcus,

 

I had a friend just get out of mortgages after 5 years of building a pretty successful business! It is really scary!

4:19pm • #6
Hit Router
Yeah what is he going to do now dan? 
4:26pm • #7
He is moving up to Denver for a sales job for I believe an accounting firm. He was from the skate industry orginally.
5:08pm • #8
AUG
25
2007
Hit Router
wow.  these mortgage deals are causing many problems.
10:56am • #9

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Marcus Valdez

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