TEAMBLOG

Dear Friends,

Our 8th Annual "TEAMTOT TOY DRIVE" begins today until Thursday, December 20th.

Please call our office at 323-936-3232 or email us at moneyteamusa@aol.com if you have a new, unwrapped toy that you would like to donate to an underpriveleged girl or boy.

MoneyTeam will pick up your toy and we will donate all toys to several charities in the Los Angeles area in time for Christmas!

We encourage your donations and we truly appreciate your participation in helping a youngster jump for joy!

  Thanks Again

(The Number 8 Sign To Be Displayed New Years' in NYC)

Dear Friends,

Many of us in our profession are welcoming the end of 2007.

This year has created a chronic headache for everyone involved in the mortgage industry. The suffering and the loss of one's home created by recent events due to the mortgage mess, has devastated the trust and goodwill of many Americans. The consequences are now being felt by those seeking a loan.

Any person seeking a new mortgage for a purchase or refinance of a home has sustained an onslaught of further encroachment in one's ability to secure financing.

The sub prime mortgage mess has created an intense scrutiny of loan applications by underwriters.

This new reality has frustrated everyone from top to bottom by reenforcing measures which has brought about the 'credit crunch' where borrowers are obliged to go through a meat grinder in order to be approved for a loan.

As a mortgage broker, our company has been subjected to this recently as several borrowers with 800+ Fico scores were in essence 'approved' for a loan. Unfortunately, the 'approval' was meaningless as the loan conditions were substantial and unable to be provided under any rational circumstances.

On another occasion a few weeks ago, our office was compelled to submit a loan with excellent compensating factors to 5 seperate lenders in order to secure financing for a purchase. With 775 Fico scores & over $300k in reserves and 20% down, one of the lenders asked for over 19 loan conditions! This is the 'credit crunch' psyche that has permeated throughout. This behaviour must truly come to an end!

Nonetheless, this process will eventually cease once the outrage is demonstrated in the marketplace by no loan activity or when the 'scheduled' recession mentioned by many economists begins. We try not to be cynical, but in reality, it's all about money.

With that said, we still consider ourselves true optimists and hope 2008 will be a year of calm in the markets & of common sense decisions and actions in regards to mortgages.

We're glad to see 2007 go and let's ring in the New Year with our fingers crossed!

P.S. Our office will be closed on Monday, December 31st and Tuesday, January 1st, 2008. Our office will open promptly at 10AM on Wednesday, January 2nd.

Thanks Again

Dear Friends,

The Christmas season is upon us once again.

During this period most of us become a better person. We are able to demonstrate to others as well as ourselves our genuine and sincere ability to help those less fortunate. We are also able to provide comfort where needed and to end strife or mend fences with family or friends.

We become a better person just by acknowledging there are aspects in one's life that have lied dormant and we are compelled to resurrect the virtuous thoughts and actions that may have escaped us during the year.

Now is the beholden time to activate our actions toward this fullfillment as we become a more worthy and accomplished individual.

While such ideals and recommendations for a worthy existance and a mode of conduct are desired, we cannot escape the suffering of many Americans due to the mortgage mess we have and will continue to experience for years to come.

This problem is still a recurring nightmare for many Americans. Loss of one's home through foreclosure, inability to refinance due to loss of equity or the new severe requirements imposed by lenders in obtaining a mortgage loan, is a reality which is truly depressing. Our thoughts and prayers are for those that have suffered from this debacle.

We look to the future.

Our positive attitude is uncompromising. 

The strength in our faith is the driving force which will help us to overcome.

MoneyTeam wishes you, your family and friends a Very Merry Chistmas!

P.S. We give thanks to those that helped us on our 8th Annual TEAMTOT TOY DRIVE. We are grateful for your help!

Our office will be closed at 12 NOON on Monday, Christmas Eve, December 24th & Christmas Day, December 25th. We will reopen at 2PM on Wednesday, December 26th.

Thanks Again