Daedalus_IHB
New member
When I think of stereotypical *bad* realtors and other salespeople, and the "advice" they give, this is the guy I'm thinking of. I was surprised in how appalling I found the advice given, and that says a lot.
Cliff's notes:
62-year-old woman, recently divorced, laid off and unable to find work, with health problems, is having trouble finding a lender to give her a reasonable rate on the relatively small mortgage balance on the townhome she received in her divorce. She wants to know how to go about getting a reasonable loan before she burns through her savings and has to go into foreclosure.
Realtor's advice: Trade in the townhome and move "up" to a smaller house in a swankier neighborhood. Reasoning: With the drop in the market, the swankier neighborhood is more affordable now. That, plus interest rates on 30-year loans are attractive too!
Cliff's notes:
62-year-old woman, recently divorced, laid off and unable to find work, with health problems, is having trouble finding a lender to give her a reasonable rate on the relatively small mortgage balance on the townhome she received in her divorce. She wants to know how to go about getting a reasonable loan before she burns through her savings and has to go into foreclosure.
Realtor's advice: Trade in the townhome and move "up" to a smaller house in a swankier neighborhood. Reasoning: With the drop in the market, the swankier neighborhood is more affordable now. That, plus interest rates on 30-year loans are attractive too!