Hello everyone, welcome to my first Blog.
I am new to this, so please bear with me.
Stating the obvious, we have all been through a very tough 6 months in our respective businesses and as homeowners. As a Mortgage Planner, I had a front row seat to watch the real estate market implode and thus found it more and more difficult to help people with their home loans. It has been especially tough providing a high level of customer service due to the fact that for a while there, it seemed that lenders were dropping every day and those that stayed open altered their guidelines so drastically that an approved loan ready to go to docs one day was dead the next, due to the disappearance of the program. As a result, my little corner of the industry began to feel like a war zone; casualties left and right - good loan officers and good companies succumbing to the whirlwind of the Great Mortgage Meltdown of 2007, the unknown replaced certainty, and many more fell victim to despair and left the industry entirely.
I am humbled to admit that I myself considered leaving the industry for a more "stable" situation. However, in my deliberations, I began to question where could I go that would provide the same sense of accomplishment; the same joy of being involved in getting a family into a home with a good loan that sets them up for long term success. I couldn't come up with anything. I know its corny, but I know I make a difference in what I do.
So with no end to the real estate downturn in site, no end to the daily media onslaught, I resolved to dig my heels in and move forward into the unknown. Armed only with a database, a few great referral partners, my wife's love and support, and my passion to succeed, I am still here and open for business.
Many have said that our industry was overpopulated with an abundance of loan officers who were new to the business. Unfortunately, many of these folks were out to make their money and move on to the next deal with little or no regard for the type of loan they were funding for their client, much less explaining the potential pitfalls that came along with that great introductory rate. I hope as our numbers decrease that it is these individuals who leave our business so that the true professionals can get on with the task of rebuilding our industrie's reputation through doing good business.
Whew! I am sure this is a common topic among the countless bloggers out there, but I had to weigh in and let it all out.
Now it's 2008 and we are still swimming in the turmoil. In fact, our predicament has spilled over into the general economy. And we are hearing the R word more and more every day. But I am starting to see a light at the end of the tunnel.
Interest rates are approaching all time lows again, home values are down considerably, and these two factors are increasing home affordability to a larger segment of the population. Yes there are credit worthiness issues and a down-payment is still needed in most cases, but I believe the message needs to be gotten out that just as our industry has gone through radical changes, the current situation is improving and there is more opportunity for homeownership today than there was yesterday. I guess it all comes down to attitude. Are we half-empty or half full?
I for one am very excited about 2008 and am very grateful for this forum to share my enthusiasm.
Thank You
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