Hold On - It Will Pass!

I read an article that said, "Nobody saw it coming."

Whatever. I've been telling my clients and my associates for over a year that this cannot last. The numbers don't work. It's all smoke and mirrors. Excitement built on hype and funded with greed. Bad combination.

However, I will say that the end is in sight. What has happened is that lenders who took the most risk are out. I found it sadly ironic that there was a rep from SouthStar in my office on Thursday of last week trying to by some loans and saying how secure and stable their company is because of all the great decisions they have made.

Friday the sizzled and Monday imploded. Gone. One of our truly more direct competitors just vanished.

Are we being impacted? Not too much by our funding ability. The major impact is because of the collateral damage resulting from the confusion of real estate professionals, investors and homeowners who really are not sure what just happened.

Stupid loans just went bye-bye. Don't worry. Welcome to reality. Baby your credit, save some money and stop changing careers every 12 months.

I have spent literal hours and hours on the phone with people from across the nation explaining how they can still excel in this New Day In Real Estate.

Simple, just keep working, investing, showing and listing.

Hang on. If you need some confidence or have a specific question feel free to email me. But have hope!

Here Is A Recent Actual Deal Done At Novation Mortgage:
576 score
Full Doc
100% purchase
1st time home buyer
58% DTI
$3600 in collections remained open
6% seller concessions
and a conventional fixed 30 interest rate!