Excuse me, what a bunch of chicken littles! Had a very productive day and the traffic was not bad. And, they've cancelled school for tomorrow. In Dallas, Paige has had the week off with the Super Bowl in Big D on Sunday. Maybe 1/3 of the people in my office today.
The East Baton Rouge real estate market is starting to get calls from home owners that are finding themselves in "trouble" with their properties. These are such sad situations, where the lenders should have never made the loan and where people have flat out made poor decisions. A recurring senario that I'm hearing is that a couple purchase a property, lived there for a while and got a home equity loan. These loans ballooned the debt on the property and now they will not sell, 2/3 years later for the original loan and the home equity loan. When the homeowner gets behind on the payments and fall behind on their payments, the penalties, loans and fines are overwhelming. I'm just curious. Who's going to make up for the deficit these properties leave behind. Who really eats the difficiencies? I hope this doesn't last long. It takes a lot out of you to work through all the banking b.s. and fall-d-rall to work to sell the property.
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