Lenders! Let's Get Creative! Think Outside The Box!

I am Palm springs loan guy.  Palm Springs Ca.  and I like your thinking.  I am sure that there is some think tank working on all the things you mentioned and more.  Lets cross our fingers.

Palm Springs Mortgage Guy Charles Dismuke

Very timely Katerina, we just finished a workshop in Akron, Ohio looking at the mortgage side of this mess and had similar ideas thrown around....but will anyone in that industry listen???

Charles Dismuke - Palm Springs, Ca

Charles- Let's hope they do come out of that think tank with some innovative ideas that can be implemented. Let the free market work! Katerina 

David M. Childress, Akron Ohio Homes for Sale.

David- HEY! Nice to see you around! Thanks for coming back to my blog! I have written some great posts while you were away from AR. You might want to scroll through them now and then to check out my coaching posts. Katerina  

You tell 'em, Katerina.  Now... if only they would listen...

Katerina, Haven't you seen the WAMU commercials with the bankers in the bull pen.  Do you really think they can think outside the box?  Wouldn't that be nice?  Consumers should lean on lenders to become more creative.

Margaret Woda, Maryland REALTOR

Margaret- Well, you never know who might be reading this! Katerina 

Bradenton Florida Real Estate - Dan Forbes REALTOR®

Dan- They need to be for the buyers and for the health of the free market. I love reading Forbes magazine and there is some great stuff there about all of this. Katerina 

Awesome ideas, hope someone is listening!

Krista Fuchs Pennsylvania Realtor

Krista- Thank you, I hope that someone is reading too! Katerina 

Maybe it becuase I'm getting older but I used to remember some very creative lenders in my past.  When I was a new agent, I was amazed at how loan officers could get creative - not so much nowadays - I guess they haven't had to until NOW!

Debbie Cook

Debbie- Well, they did away with the assumable loans pretty much and the wrap arounds. The lenders didn't like us using those so they created the due on sale clause. Thanks for your comment. I remember those days too! Katerina 

KATERINA - I think that the mortgage industry needs your creativity now.  It seems that we've hit a speed bump and now the government wants to make everything disappear.  I'm not sure if this is true, but I got an e-mail from a mortgage company that said that the fed is looking to pass a law that would either eliminate or greatly reduce the availability of stated income loans.  The more programs that get taken away, the longer and more painful the softening housing market is going to be also, as most people are not cash buyers.

Adam Waldman - Long Island, NY Real Estate

Adam- another example of governmental interference with our free market. Yes, you are right, there are those that want the government to step in and cancel all stated loans. This is not a good thing as this is the only kind of loan I can get as a full time commissioned based Realtor who has expenses! Each person who gets a loan needs to be responsible and accept the consequences of their actions of not paying their mortgage. If they don't understand, don't sign! I just do not accept the excuse that people got screwed, most people were lying to get the loans. If you want to keep your house you go get two jobs, you do what you have to do, the market going up or down should not affect whether you want to live in your house or not. I sound harsh, I know. But the fact is that entitlement issues have gone too far. The government getting involved is only going to mess things up even more. Katerina 

These are diffently ideas outside the box.  Good information. Thanks.

Jimmy McCall

Jimmy- Thank you for commenting! Katerina