Was it REO Speedwagon who sang about "riding out the storm?" That would make each on of us Riders on the Storm. Even though Morrison didn't make it, we can. Back in early 2008, got some negative comments where I said "In 2009, we're going to be in a Depression, begging and looking up for a Recession." There are those who said we'd never get into a Recession. So, I won't bang my drum about being some special forecaster; Lord knows I've blown a half million bucks the past year and "crapped out" on the financial craps table of life. So, what can YOU do now? PREPARE. Brace. Fortify. With unemployment at its worst since 1947 and the markets down and values falling and markets grinding to a global stop, we haven't seen the end of this. We may be at the quarter-way mark. It's all cycles and trends; it just sucks to be in the valley right now. For those who can: LOCK-IN your 30-Year fixed rates NOW. Get them going. For the Jumbo players, Get into at least a 5-year interest only loan (that's the only rate that makes sense on Jumbos right now). DON'T leave yourself in an adjustable situation. The rubber band will snap on rates and it will be too little too late. Gett'er done now: Pat Townsley; Mortgage Broker. http://www.ptre.net/. The next set is coming in, so line-up, outside break, get ready to ride the next wave.
Saturday, March 07, 2009
Riding Out The Storm
Was it REO Speedwagon who sang about "riding out the storm?" That would make each on of us Riders on the Storm. Even though Morrison didn't make it, we can. Back in early 2008, got some negative comments where I said "In 2009, we're going to be in a Depression, begging and looking up for a Recession." There are those who said we'd never get into a Recession. So, I won't bang my drum about being some special forecaster; Lord knows I've blown a half million bucks the past year and "crapped out" on the financial craps table of life. So, what can YOU do now? PREPARE. Brace. Fortify. With unemployment at its worst since 1947 and the markets down and values falling and markets grinding to a global stop, we haven't seen the end of this. We may be at the quarter-way mark. It's all cycles and trends; it just sucks to be in the valley right now. For those who can: LOCK-IN your 30-Year fixed rates NOW. Get them going. For the Jumbo players, Get into at least a 5-year interest only loan (that's the only rate that makes sense on Jumbos right now). DON'T leave yourself in an adjustable situation. The rubber band will snap on rates and it will be too little too late. Gett'er done now: Pat Townsley; Mortgage Broker. http://www.ptre.net/. The next set is coming in, so line-up, outside break, get ready to ride the next wave.
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