All Forum Posts by: Kevin Mace

I have vista (ughhhhhhhh) - new laptop. Is there a vista version? I use firefox instead of IE and love it except I have to open up a few website using IE as firefox will not let me use some of the dropdown boxes. I have just found this problem on countrywides website and the credit site.

All of us in the mortgage business know that were still giving "crappy"(2/28's, 100% with 600 scores etc.) loans 1-2 years ago. Allot of the people that bought were sold on sucking up the payments for 2 or 3 years and then they could refi and get back to normal life - lo and behold they cannot refi, most of them have payment increases by 10-25% so then they foreclose, values drop and their neighbor cannot refi, he forecloses, values drop again etc.... tumble tumble tumble.

Short sales, rate freezing and some of the governments programs will help but they will not STOP it.

Those loans will be coming to the end of their fixed period for a couple more years and I truly think that is when we will see bottom.

this is what I got when I clicked on the link:

The page you were looking for doesn't exist.

You may have mistyped the address or the page may have moved.

Hello all.

I have been in the mortgage business for 5 years now. About a year ago we had a lead source in Mass and about 9/10 apps we took could not qualify for a mortgage due to negative equity mostly. It got very frustrating and then I came across "short sales" . I worked on a few with a mentor from a company in Cali and got very discouraged. Nothing closed and it was a big waste of time. Long story short I did some more research and decided to do it on my own and learn however I could. Well we are about to close our first short and have a few other in the works.

I have done some networking in the BULK REO business as well but all that has lead to is dead ends thus far. I had a POF and LOI from a buyer but they are exploring other options as all the bulk reo deals fell apart. There are allot of people out there who say they have it but it is mostly BS. If anyone has a source for 20-50mil in NYC that is what they were looking for and I may be able to persuade them to attempt again.

I am looking to set up networks for shorts etc. Still doing mortgages but would rather not as they **** ;-).

I try to market for shorts in areas I already have a network set up. It is much easier to find short sale clients that investors we have found.