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Where's the Pony? Surviving and Thriving During the "Mortgage Meltdown"

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Education & Training with 770.498.7333

The smell assaulted his nostrils from his bedroom.  Shaking with excitement, the boy tip-toed into the living room where, under the Christmas tree, he beheld an astonishing sight.  A steaming, malodorous heap of horse manure.  Unable to contain his glee, he clapped his hands and exclaimed "Where's the Pony?" 

You've probably heard some version of this story of the optimistic kid.

Well, those of you in the mortgage industry have certainly been through your share of manure this past year.  Especially mortgage brokers - Bless your hearts! Bad enough the market is tight but then you're being blamed for every single thing wrong with the economy.

I don't know if my clients are uncharacteristically resilient, but I have noticed a surprising trend.  They are not giving up, instead, they are actively looking for (and finding) the pony in this mess.  One client has noticed that with so many of the "big guys" out of business, he is able to form more strategic alliances than ever before.  Another has found another income stream that, instead of taking him away from his core business, actually complements it.

So, when life hands you manure, find the pony!

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JC Kadii, Mortgage Virtual Assistant . Through http://www.close-more-loans.com/, JC leads a team providing top notch administrative, internet marketing, and technology services to mortgage professionals. Mortgage professionals are encouraged to visit the website and sign up for the More Closings email newsletter to receive the report 6 Steps to More Referrals. 
 

Comments(6)

Christopher Ohlsen
Credit Werx, LLC. - Malone, NY
Yeah, I think that some good things are coming out of this mess. For instance although it is harder to get qualified for financing you are truly qualified. It just doesn't make sense to lend money to individual's who surely cannot pay back the loan.
Jan 11, 2008 12:16 AM
Lance Winslow
The Car Wash Guy - Malibu, CA
Ah ha Jackie, I could not agree more with what you say here, great points, I like your style and bluntness, keep up the great work, Lance
Jan 13, 2008 04:59 PM
Jackie - computer-training-atlanta.com
770.498.7333 - Atlanta, GA
Learn to leverage technology to get more done.

Christopher - I agree with you; it does not make sense to lend to unqualified buyers. However, these broad sweeping changes have also affected people with a solid track record of handling credit who may not be able to document income through traditional means (self-employed, etc.)

Lance - thanks for your comments and encouragement.

Jan 13, 2008 08:33 PM
Elizabeth Nieves
The Elizabeth Nieves Realty Group - Durham, NC
Bilingual Raleigh - Durham North Carolina Real Estate Team

I LOVE THAT!  I'm gonna go start looking for the pony right now. (Thanks for commenting on my post!)

Jan 15, 2008 01:33 PM
Jackie - computer-training-atlanta.com
770.498.7333 - Atlanta, GA
Learn to leverage technology to get more done.
Elizabeth - you're quite welcome; I enjoyed reading your blog.
Jan 17, 2008 12:55 PM
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

Jackie, I agree.  Those of us who are in this for the long haul can and will find silver linings.  More than anything it's confusing, but finding those other income streams and forging new alliances is an awesome strategy for everyone.

Thanks for the reminder.

Jan 17, 2008 03:15 PM