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Mortgage Meltdown (1 viewing) (1) Guest
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TOPIC: Mortgage Meltdown
#624
DaniC (User)
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Gender: Female Location: Lowery Blvd - Historic WestEnd Birthdate: 0001-06-01
Mortgage Meltdown 3 Years, 7 Months ago Karma: 0  
Interesting article. It has ALOT of references to Fulton County and 30310.

www.alternet.org/workplace/89837/
 
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#625
cubana (User)
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Re:Mortgage Meltdown 3 Years, 7 Months ago Karma: 6  
I have to speak on this. Because so many times we just hear one side of the story. When I started in the morgage business, I tried to educate my clients on the dangers of these types of loans but they did not want to hear it. They want the money or the house period. I even lost a client because I suggested she wait a couple of months for her credit to increase so she would not have to do a sub prime loan. She went with someone who would give her a interest only for three years.

So please dont blame us, the majority of loan officers try to do what is best for the borrower. It is the borrower who decides to take the loan.

I will concede two points
1)not all loan officer try to educate the borrowers when the borrower is making a mistake.
2) These loan should not have been offered. But just like fashion just because they make it in your size dont not mean you should wear it.
 
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Last Edit: 2008/07/09 09:19 By cubana.
 
“Sometimes you put walls up not to keep people out, but to see who cares enough to break them down.”
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