Unless you never turn on a television, never pick up a newspaper, and never listen to the radio....you would have to have gone through another week of wondering "what the heck is going on??". Again, we have more turmoil in the market and now we have an extremely possible federal bailout that will definitely affect our business. But, how? Well, while I am far from an expert, I do believe it is the little (yes..that's a pun) kick in the butt we need to help our industry begin a recovery. First, we need to recover our consumer confidence. Potential buyers, even seeing low interest rates and extremely reduced home sale prices, are still somewhat reluctant to make a purchase at this time. For me, personally, the phone has begun ringing more. I have done a few more preapprovals than I had been doing, and several of my potential borrowers have offers on the table. You and I need to seriously take an optimistic approach right now. We need to expend that extra energy to inspire people to take advantage of a great opportunity to buy while prices and rates are low. Avoid that gloom and doom perspective and when you are confronted with it, try to turn it around. While I know it may sound somewhat foolish to pretend things aren't as bad as they have been, the only way to turn things around is a new and positive approach. I am truly excited right now as I feel that being a survivor of this market has made me stronger. (oh..and taught me the value of clipping coupons, too) And, while I am sympathetic to those we have lost in our industries, I do know that I will have less competition in the future. I am also hopeful that my knowledge of my industry, along with my attention to detail, and genuine concern for my clients, will provide me with increased business in the future. I know in the past that I have lost loans to other lenders willing to falsify documents or push borrowers into programs that were more beneficial to the loan officer than they were to the borrower. I hope my morals and ethics will shine through as well.
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