Have you ever unexpectedly bonded with or really helped out a homeless person?

[ceo]

i used to say the same thing, but when you have nearly zero resources available to you, it's virtually impossible to overcome that baring a miracle or exceptional god given gift (athletic or musical). Poverty is a perpetuating cycle.

Lestat? That you bro??

 

[puddlemonkey]

mortgages......especially if you go subprime, stressful but very lucrative.

Marketing is everything in this biz
My company acquires out alot of (very solid)leads. We always large major marketing campaigns with specific themes.
We have so much business we have no idea what to do with. ALot of cash out refi's...especilaly subprime.

That's why i love subprime
people are fucked up and you can put them in their place. They can't walk into any bank and get a loan

yeah exactly. it's alot easier if they don't grind you out for every fuckin quarter point. my time is way too valuable for that shit

i like my subprime clients. take it or go into foreclosure LOL

well

I had this one deal, appraisal got done yesterday.

Priced it out at 8.0% fixed a couple of weeks ago. W/ all the guideline and rate changes, it's at a 9.25% now. It's still better than her payment adjusting on her, but the woman now wants to "wait" and see if her credit gets better and the rates drop. i tried telling her the reality of the situation w/ subprime, and how if she doesn't act soon, she may not even be able to get a loan at all. 570 FICO, her credit has always been shit. now she wants to rethink the whole thing. I think she'll do it anyways, but i don't know.

well, lets see....

i lost half my book of my business. (probably about 15k worth of commisions in my pocket)

due to certain banks going out of business and rate/program changes.

the past 2 years i've done about 95% subprime business. all my clients have shit credit pretty much

unfortunately for me 95% of my business was subprime, and most of my pipeline got wiped out last month w/ the secondary market disaster. i dont have the reserves right now to remodel my business plan and execute.

i wish i was FHA approved, but i always worked for 1099 shops, so none of ever were. i know w2 is required to be FHA approved

my friend is dealing with alot of short sales and foreclosure bailouts right now..

i might have to follow suite

I did...and usually i am, but you have to pick and choose your points as you grow older.

especially in business now, i have to be VERY subtle about being right with my clients. i can't just shove it down their throat anymore (like i used to with dumb subprime clients).

i had the same transition when subprime took a shit and i freaked out (this past summer).I didn't really work or have a job for months till i found my new shop. I was thinking about going back to school etc.
just gotta ride it out for a couple of years till the glory days return.

it's only temporary....just remind yourself of that

Wasn't subprime the crap that got us in this mess?

 

[stosstruppe]

 

[calveless wonder]

uh... but you were a 'predatory lender' when you worked in that field. Even your brother jngr gave you shit about it and he was in the same biz.

just because you have your life savings hidden underneath your mattress doesn't mean you have any clue about anything in the financial world.

you also are another perfect example of a person having no idea what you're talking about.

your only saving grace is that your finance background ineptitude forces you to be frugal and not leverage yourself at all. so you will always be comfortable given your income, and by playing it safe, you don't expose yourself to risk so you'll never be in bad financial shape. but at the same time, you'll never be caught jet setting on a G4 because you're too burying your discretionary income under your floorboards

 

[mustang_00]

i'm just posting to be a part of this epic thread!

 

[calveless wonder]

Have you been doing real estate loans for 20+ years?

All I can say is that I've weathered business trends for a time and my clients may have not been able to give me the business they wanted too but I'm still doing what I started six years ago, how about you?

LOL @ trying to compare the impact of the economic climate on the computer industry as opposed to the real estate industry.

btw i was 21 years old when i started the business. And i had way more success and life experience at 24 than you probably had at 30.

you're like 40 years old there partner...with a low cost of living because you live in nowhere fuckin ohio. so your ability to sustain your business isn't something you should act all big swinging dick about. I'll be happy to use my mid 30's as the barometer of my professional success when i get there (in about a decade)

i think you need to get laid. 3 years of no fucking has obviously disrupted your brain chemistry

 

[calveless wonder]

lol @ you trying to act like you know what guidelines were. The example you keep harping on, unemployed/ welfare. In my company and most companies, they didn't get loans. UW pulled a 4506-T, which I'm sure with your infinite wisdom, know exactly what it is. If that income showed they got turned down. Know what you're talking about.

javaguru knows everything about anything. thats why he doesn't have sex anymore or leave his town to experience any other part of the world or country. There's nothing he could possibly learn from going anyplace else or meeting anyone else.

he prefers the dopamine rush of warhammer as opposed to orgasm

 

[puddlemonkey]

just because you have your life savings hidden underneath your mattress doesn't mean you have any clue about anything in the financial world.

you also are another perfect example of a person having no idea what you're talking about.

your only saving grace is that your finance background ineptitude forces you to be frugal and not leverage yourself at all. so you will always be comfortable given your income, and by playing it safe, you don't expose yourself to risk so you'll never be in bad financial shape. but at the same time, you'll never be caught jet setting on a G4 because you're too burying your discretionary income under your floorboards

LOL @ trying to compare the impact of the economic climate on the computer industry as opposed to the real estate industry.

btw i was 21 years old when i started the business. And i had way more success and life experience at 24 than you probably had at 30.

you're like 40 years old there partner...with a low cost of living because you live in nowhere fuckin ohio. so your ability to sustain your business isn't something you should act all big swinging dick about. I'll be happy to use my mid 30's as the barometer of my professional success when i get there (in about a decade)

i think you need to get laid. 3 years of no fucking has obviously disrupted your brain chemistry

You can't gripe about people making assumptions about you and then turn around and do the exact same to them.

 

[calveless wonder]

You can't gripe about people making assumptions about you and then turn around and do the exact same to them.

http://blog.infinitemonkeysblog.com/files/images/obvious_troll.preview.jpg

 

[Rachel...lol]

oh shit - in!

So back to the original topic - I do not feel as if I have "bonded" with somebody unfortunate to be in this situation, but recently I did give somebody some money, which is atypical for me. In Grand Rapids many stand at the end of highway exit ramps - generally I pay for things and don't carry a debit card, but I happened to have cash and gave the man all that I had, which came to about $7.00 or so.

I often do have the difficulty of trying not to form biases about reasons that people are in the situation that they are in. Whether it was something that they did - if they are druggies or alcoholics or predatory lenders - they are in a worse situation than I am in, and unless I'm in a situation to try and start a movement and help the homeless, I have no room to judge.