Appraisal Matters

As always, Mr.Mac Crate is right on the mark about our industry. This article is one of the best out there and we are now having a terrible time with being honest and actually saying a market is declining. Why is that? It’s because the lender’s still want to make loans. Most are not the direct investors, so we are constantly being cut from lists for telling the truth.

Can a loan be placed in a declining market? Maybe. It is hard and it should be hard. Investors need to know the risk involved in lending in a declining market. Don’t they have the right to mitigate their losses.? It is difficult  when you have a mortgage payment, to hear that you will lose a large client to "not marking the check-box." How many good guys have fallen to needing to feed their families?

All should read this article.

http://soapbox.millersamuel.com/?p=370

Eileen