REFER A FRIEND
Brokers:
REFER Us
Please contact me anytime with a scenario:
Coleman Weeks
(239) 287-5177
Scenario Brokers this simple form will initiate loan qualification
I will send you a package on what we do for
working with businesses for unsecured lines of credit as well as:
secured lines, inventory and receivable loans and equipment leasing
so to replace all those home equity lines of credit that have been cancelled
or you can still make money with the old 680+, stated, self-employed
and this is anywhere in the United States
you will find this interesting and
call me if there is anything I can do to help you or your clients
I provide my principle and friend's blunt view of our current challanges below
but I warn you it is blunt, honest and not a "Feel Good Letter" but a letter that
changed my bullish views.
Vortex Capital Corp
Please contact Coleman 239-287-5177
Dustin is President of Vortex Capital Corp.
Authored by Dustin Gold
State of The Market in December of 2007
This information is my opinion, and solely my opinion as of the middle of December in 2007, a year that will go down in
infamy in the banking worlds of mortgages, banking and investment banking. I believe that the information contained herein
is true and correct to the best of my beliefs and knowledge but I have not conducted an independent fact finding mission on each
statistic or near quoted fact.
The reader should make his own opinions and conduct their own fact finding mission to verify anything contained herein, and that
the content below is solely my opinion.
I have been predicting that there would be 200 imploded lenders by the end of the year, but I was wrong as we reached that
number by the beginning of December.
How high will it go, who knows, my guess is 230 by the end of January!!!
Many people have asked exactly how I view the market and more importantly where after 37 years in all phases of the mortgage
banking industry, that I see us going in the future…questions I get constantly, such as…
What caused this?
When is it going to get better?
Can the government stop this?
Are the lenders telling the truth?
Will values keep falling? And if so, How far?
Will they eliminate mortgage brokers?
Will they eliminate par plus?
And so on and so on…
But to me…
There is only one burning question!!!
HOW DO WE STAY ALIVE AND SURVIVE…
I have written this as an individual who has been highly affected in this market and for those people who work with me, or just
friends that want my opinion.
I am sure that this piece in whole or parts will circulate to others and all that I ask for; is to send the entire piece to those parties,
and that this information is again solely my opinion, I welcome hearing yours, and whether you agree or disagree with my thoughts,
or have any additional comments.
Some people will call me negative, in reality; from the bottom of my heart I am not trying to be negative but in fact very much a
realist.
My personal background for those that are unfamiliar with me or my background is as follows:
The rest of this article
This movie demonstrates the mechanics of a recession and the causes of our housing deflation
That is me with my youngest of 13 grandchildren, Logan Giles
Coleman's letter
Hi,
I found some statistics from the U.S.
Department of Health & Human Services, and this is what it said...
It said that they took 100 people at the age of 26 and they
projected them into the future to the age of 65.
This is going to surprise you, guys.
They found out of those 100 young people that 36 are dead, 54 are
dead broke, 5 are still working, 4 are financially secure, and 1 is
wealthy.
So, of those 100 people at age 26 who reached the age of 65, the
ones that were lucky enough to do that, they found that 95 were
dead, or dead broke.
Now, I have a question for you. If you don't change
anything that you're currently doing in your life, which category
do you think you'll likely end up in?
Let me share my good news with you.
In November, I went to a dealership and bought a brand new 2008 car.
I am a finacial investment distributor and since beginning of this year I was in an awful shape financially,
no pun intended.My car became a bit of a clunker, needed new parts and it was no hope to replace it.
Bills were creeping up and days did not look very bright.
That is when a friend Dustin told me about Vortex Capital and the state of the mortgage industry
In case you don't follow the doom and gloom, go to:
www.ml-implode.com or
Broker UniverseOne Monday after hearing all the gloomy news and all my loans were falling apart or had no home.
I listened to a representative from Vortex Capital and that my dead
or nowhere loans could get funded right away, and it just sounded too easy!!!
In spite of all of my pessimism…and with a lot of my friends and colleagues exiting the business...
And my financial situation got changed in a matter of weeks as Vortex Capital saved a few of my loans
and now i know where to get those hard to place sub-prime loans, especially jumbos and super jumbos closed.
Guess what, I am telling a lot of people how to get started now.
This business is truly phenomenal, the founder of Vortex Capital has been in our business for almost 40 years,
and they specialize in getting loans funded which are hard to place anywhere else.
No chance of me being dead or dead broke now, because as more and more players are exiting this business,
it just leaves more opportunities for me,
and I don't have to process the files when I send the loans to Vortex Capital.
So, if you want to improve your lifestyle – here is your chance.
At the matter of fact, my former manager was asking me yesterday if I would get him going with this,
because he could not believe the difference Vortex Capital made in my life in such a short time.
Call me, e-mail me, send me your scenarios, get information about our industry,
the opportunity to work with Vortex Capital, make a change in your life,
get started with Vortex Capital and me and make your 2008 most financially profitable!!!
THANKS,
Coleman Weeks
Fax (509) 984-6213 phone (239) 287-5177
Would you like to add to our blogs on the industry, long as you don't torch me we will add it and make your link hot, how cool is that?
By: John Worley Date: Dec 27, 2007 - 08:59 AM
The Fannie Mae Form 1003, the Universal Loan Application. This form, known more commonly around the mortgage industry as
simply a "1003" (ten-o-3), is perhaps one of the intimidating forms a home buyer can face. While much of this form is pretty self
explanatory, many people do not fully understand how to fill it out properly.
This is Phillip Moore and he contributed this blog, thanks Phil.
Phillip Moore is an energetic professional in lending and commercial real estate investment
2008 is here and number eight is the number of new beginnings. If you have not thought about Commercial Real Estate I urge
you to take a look at something new. Commercial Real Estate as an investment can be a great addition and enhancement to your
residential portfolio. Purchasing Commercial Real Estate is not as difficult as most believe. Commercial financing has become as
flexible as Residential underwriting guidelines and in some cases it's a lot easier. When it came to purchasing real estate
residential or commercial your local banks were the only source for cash. Today this is not the case. Financing for real estate
has a variety of resources whether you want to purchase residential or commercial. Commercial financing in some cases can
be quicker and easier close than residential. Let's take a look at a general overview of some commercial financing. The benefits
of commercial financing offers No Balloons, 30 year amortization, higher loan to values eliminating the need for large down
payments, streamed line underwriting process resulting in less paperwork to close. these are just to name a few benefits in
the financing process for commercial real estate. We are now living in a time where multiple streams of income are becoming
essential. This is true not only the traditional families, but also in the world of business. Most businesses today need multiple
streams of income to help keep the doors open. With commercial real estate you add a strong stream of income and even more
than that you add a strong residual stream. The trend of families and businesses looking to create multiple streams of income
will increase the need for leased commercial space. If you are reading this blog you have the opportunity to jump ahead of the
curve. 2008 is already great and the best is yet to come.
Real Estate Woes & Economic Turmoil Create Great Investment Opportunities
By: Sarah Barry Date: Feb 27, 2008 - 10:33 AM
Great investment opportunities?! How can this be a good time to invest? Housing is in a steep decline...one of the largest declines we have seen since the Great Depression, the mortgage industry is in turmoil with record numbers of loans defaulting and going to foreclosure, the troubles in the mortgage industry are spreading to Wall Street resulting in a declining stock market and underperforming companies, the Dollar is falling, consumer spending (which is a major piece of the US economy) is declining, employment is also on the decline, the Fed seems to be slightly panicked and cutting interest rates to try to spur the economy and stop a recession/inflation, economic analysts cannot agree about the current state of the economy or the proper steps to take to improve it, talk of a recession and inflation are becoming more prevalent. How can this be good news for investing? It is difficult to believe that now is a good time to invest in anything when you focus on all of the negative economic news, but in reality, such drastic changes in such short periods of time are creating one of the best times to invest, and real estate is one of today's best investments. I know it can be difficult to believe, but it is true.
In order to gain a full perspective of the current investment climate, it is necessary to take a step back and analyze the ingredients that have combined to create the current economic and investment position. There are two catalysts that have sparked the current economic situation; the housing market and the credit crisis. For five to ten years, depending on the area of the country and who you talk to, the real estate market was booming. Home appreciation was at an all time high, and consumers (end users and investors) were taking full advantage of the opportunities these high price points offered. Prices were rising quickly, and real estate seemed like a great way to create a quick profit. Profits from home appreciation became added income for most consumers, and this added income brought with it a false sense of security. The great appreciation and large profits in the real estate industry, for consumers and all professions associated with real estate, fueled the US economy. The problem was that this sharp rise could not be sustained. Eventually a correction would be needed to level off the market. At the height of the real estate boom, the median price of a home was 45% higher than the median US income! Home prices exceeded the consumers' ability to purchase. The market was clearly out of line, and what we are witnessing today is the correction that is bringing many economic variables back in line with one another.
Check it out