Monday, August 13, 2007

The funny thing about the "mortgage crisis"

Stephen Colbert and Jim Cramer on the subprime market "We Have Armageddon"

You'll have to click your way into the link, as I haven't learned how to embed a youtube etc. but watch Colbert and Cramer. Thanks to Kay Athol and Jim Duncan for the links.

It's one of the biggest of catch 22's I've ever seen in my life. There's bargain homes everywhere begging to be bought, and the buyers are itching to do it.

My phone is ringing off the hook, with buyers who want to buy in a buyer's market and I can't get loans for most of them. The lenders we work with are bright, dedicated, motivated and up to speed, and they're stymied also.

Hopefully the intervention of the European Central Banks and the Fed last Friday will help ease some of the pain, but it's going to take a while to sort it all out.

The most important thing that YOU can do, if you even remotely think that you'd like to buy a home or an investment property, or to sell and move up or down......whether if it's a year or 2 from now or right now:



TALK to an experienced, professional, full time lender. Your cousins uncle's neighbor who deals blackjack during the day and does loans on the weekend IS NOT GOOD ENOUGH. And the same goes for the Realtor who is going to help you.
If you need help figuring out how to do it, give us a call and we'll start you on the RIGHT path.

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