Let's get candid about a few things..... 

Just how bad is it?

President Obama went on TV the other day and told Americans to jump back in the stock market. It seems as if he is on TV just about every day lately. And like clockwork when Obama tells the country things will be ok the stock market gains as if to jump with joy. Well guess what happened this time. The chairman of the Federal Reserve went on TV that same afternoon and stated, “Without a reasonable degree of financial stability, a sustainable recovery will not occur,” Bernanke further commented, “Although progress has been made on the financial front since last fall, more needs to be done.” He also added policy makers would have “preferred to avoid” what is likely to be the largest ratio of federal debt compared with gross domestic product since the end of World War II, and he urged lawmakers not to lose sight of fiscal discipline.

After multiple bailouts to AIG, Citi, Bank of America and others, I ask you in all seriousness – Ya think it’s gonna work? Even kids see what is going on and are asking why? Enough said……………

High Quality Advice - seek it now….

Leave the lowest rate to Lending Tree. In today’s mortgage market, you better know what you are doing. Will a program you qualify for now, a program that puts you in a better financial position, a program that makes sense even be available next week? Talk with an expert who fully understands today’s mortgage lending environment. Have your credit report reviewed once a year. Understand your options. And never forget – Cash is King!  If you have to, hide some under your mattress.

Our sincere prayers and thoughts….

As a 15+ year mortgage vet, I have seen a few up and downs. But this time, the percentage of mortgage professionals that have left the business is staggering. Many hung on as long as they could, some too long. Many had great credit and families to support and are now in dire financial straits. Some of these people were my friends for the past 15+ years. As I have told colleagues over and over the past few months, we are not competitors any more - we are all in this together. We should be holding hands. Unfortunately, too many were victims of the industry. We are thinking of you guys and wishing you the best.