Foreclosure Also Means Dried Up Bank Accounts

3 04 2008

Right now, I have approximately $150 in my account.

I am married and we’re expecting a baby, I haven’t found a good job worth giving my full attention, we’re living day to day right now, but I know that I will get a job soon. Even if it means serving lattes at the local Starbucks.

As the mortgage industry dried up, so did my client database. I can’t get people qualified for refinancing because their values have gown down, they don’t qualify, or there is no benefit to doing the refinance.

Luckily, I just closed a loan on a borrower that did qualify and it will give us enough to last the month of April.

I’m already late on Aprils rent and have asked the landlord to accept the 2nd half of the rent a week late. What choice does he have?

I went through my entire cash reserves the last half of 2007 trying to maintain my credit. Looking back, I should have just quit payments on EVERYTHING and kept my cash reserves. Bad credit was inevitable anyways.

Hopefully the market turns around soon. In the meantime, I’ll still pound the pavement looking for a new job, and if worse case scenario, there’s always a Starbucks close by…


Actions

Information

Leave a comment