It was bound to happen sooner or later.The market went too crazy for too long and some lenders took advantage and did some things that they should not have.The local news here in Redding Reports that a former local lender is behind bars and others may indeed be investigated in this latest rash of crimes.
In the Real Estate and Mortgage business reputation is Everything! Redding might only be 90k+ but word does indeed travel fast....especially of the bad or negative nature.
I am sure there will be others in the news in the near future that fell for the easy money...
It's a shame as it give the entire industry a black eye...there is such a thing as "Guilty by association".It is a fact that many will rush to judgment and will not thoroughly investigate before forming options.
Sooner or later it seems that Justice does indeed take place...or Karma or what ever you want to call it...what comes around...certainly does go around...sooner or later.
To keeping a good name and doing the right thing!
Best,
Richard
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