I'll put this in the list of the Top 10 crappy things going on in the world of real estate financing. A lot of people were just put out of work and a lot more people won't be getting loans at Chase announces that they're closing the doors to wholesale lending. That's TWO MAJOR BANKS with bad news for homeowners in the first two weeks of the new year. First Wells terminates all Jumbo loans, now JPMorgan Chase just going bye-bye. This is only the beginning. Could the debt of the Bear Stearns acquisition be a factor, or is it all a conspiracy theory, or just the next of 1000 papercuts on global financing? Brace yourselves by Locking In and Refinancing NOW before it's impossible. This lock-down could last years, and you might not. Let's talk. Pat Townsley, navigating the incoming shitstorm of 2009. http://www.ptre.net/
Tuesday, January 13, 2009
Chase this: Chase Closes Wholesale Lending
I'll put this in the list of the Top 10 crappy things going on in the world of real estate financing. A lot of people were just put out of work and a lot more people won't be getting loans at Chase announces that they're closing the doors to wholesale lending. That's TWO MAJOR BANKS with bad news for homeowners in the first two weeks of the new year. First Wells terminates all Jumbo loans, now JPMorgan Chase just going bye-bye. This is only the beginning. Could the debt of the Bear Stearns acquisition be a factor, or is it all a conspiracy theory, or just the next of 1000 papercuts on global financing? Brace yourselves by Locking In and Refinancing NOW before it's impossible. This lock-down could last years, and you might not. Let's talk. Pat Townsley, navigating the incoming shitstorm of 2009. http://www.ptre.net/
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