These days it's hard to find encouraging signs or words regarding the mortgage industry. All forms of the media grind out accountings of the fluctuations, stresses, and atrocities happening within it daily. I don't believe in being an ostrich burying my head in the sand, but I can't help but wonder if all the negative press doesn't somehow make our problems worse.
It's true that consumers and homeowners need vital facts and information to react and make sound decisions regarding their finances and credit. Especially now, they need to be educated about opportunities and options available that will truly assist their fragile or dire financial positions. The number of phone calls I receive picks-up dramatically after each newly received stimulus announcement. Everyone is anxious to hear if the miracle-performing medicines that will relieve their financial ills are contained within it. Dialogue such as this is important. Real answers and action can result from it.
The relentless pounding of negative news seems to panic and paralyze though. Fearful of making the wrong decision, no decision gets made. Questions and more questions are asked and asked repetitively. Days and weeks go by and no positive or forward action is taken. Unfortunately, the assurances and answers sought are sometimes elusive. A lender, even the most experienced and knowledgeable one, is not a fortune-teller. The future, particularly the financial future, cannot be predicted or predicted accurately 100% of the time, especially right now. That lender can only rely on their acquired expertise and gut instinct, hoping that it will be enough to calm the fears of their customers and referral partners.
If mortgage decisions are delayed, problems can grow. If consumers delay or forego purchases, financial repercussions have a rippling affect within the economy. It's a vicious circle of events, each creating and worsening the next.
After being in the mortgage business for 30 years, I have been through many highs and lows. Recessions have come and gone of varying degrees. As bad as this current recession seems, I choose to believe that it will be no different. I am focusing on the good news and the positives when they occur, trying to build upon them. I try to focus and speak of them when communicating with my customers and within my own industry. I truly believe positive thinking breeds positive results. Good karma, if you will.
Trying to act and remain positive and optimistic is a daily exercise we all need to perform. Your financial survival and success could depend on it.