My how things have changed

By
Real Estate Agent with Frank Rubi Real Estate
I just read that they expect more foreclosures than new homes built.  WHAT are you kidding me?  I can't believe things have gotten this far out of control.  I believe the loan officers and mortgage companies lowered there standards to much for profits.  Well one thing I am sure of is there will be a price to be paid.  This will come the way of layoffs, reduced earnings etc.  Maybe they will learn by their mistakes.  Somehow the blame always goes somewhere else.
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Comments (1)

Lanre-"THE REAL ESTATE FARMER" Folayan
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

I was watching the news late night and I hear the foreclosures for July-August was like 288,000. I agree with John. Some loan officers and mortgage companies lowered their standards too much for profits. Hopefully some will learn from their mistakes but I serious doubt that because so far no one has been fined,suspended and/or going to jail because of this mess. Great post.

Sep 07, 2007 10:58 AM

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