TEAMBLOG

Dear Friends,

During the past several months, there has been a chronic cycle of depressing news in regards to all aspects of the economy. Today was no different as IndymacBank was taken over by Federal Regulators to secure the funds of depositors. Subsequently, FannieMae & FreddieMac, the foundations of the mortgage industry, were rumored to have difficulties in obtaining monies needed to maintain liquidity. While the stock market lost 128 points and oil climbed to $145 a barrel, such bad news continues to create fears of confidence and trust in these institutions by investors. The mindset of many Americans towards the future looks bleak.

Unfortunately, due to perceptions of instability among the 2 most important mortgage concerns in the US, there are chances interest rates will begin to rise for those seeking to purchase or refinance a home in the near future. If this occurs, with all of the challenges borrowers have to face in applying for a loan, a downward spiral of economic calamities may become a reality. Let's hope this is not a foregone conclusion and just another hurdle where we are collectively searching for the best and safest direction.

The Senate has just passed mortgage bailout legislation for $300 billion. In an upcoming TEAMBLOG, we will discuss the ramifications of this bill if it becomes law.

I had written a completely different piece for this week's TEAMBLOG. However, with today's news, it was necessary to devote a few words to its importance. In coming weeks, I'll be providing my thoughts and ideas on how to formulate an energy policy we can promote and live with among other challenges.

"Come What Come May" is an expression brought to life in Shakespeare's Macbeth. This saying is a true reflection of developments we are witnessing in the financial markets. The future direction of the mortgage industry will become established in the next few months. Stable markets and optmistic trends are always welcomed!

IN OTHER NEWS:

This coming week, I'll be visiting Realtors in the Los Angeles area. I've been seeking to go out more often & distribute our flyers and information about MoneyTeam, but I've decided to finally make the time to meet many of you that have responded to our offerings on our website and our loan programs. I'm eager to respond to your queries & to drum up some business too!

Please check our WEBSITE on Monday as we'll be having a MORTGAGE SALE from the 17th until August 7th which will come in handy for all borrowers.

We have numerous investors and contacts for COMMERCIAL - LAND - INDUSTRIAL - APARTMENT and HARD MONEY loans. We are receiving calls and emails from these sources on a daily basis. Let us help you submit your loan today! Call our office at 323-936-3232

Thanks Again