Banks friend or foe? Shopping for a loan consider this....
Posted by Michele Replogle on
It just came to me that this Covid-19, Shelter in Place experience is a lot like a situation a few years ago. The Depression of 2008. A large mortgage bubble that popped and caused a faulty built economy to collapse. This created a huge mortgage meltdown people lost jobs, people that had jobs tied to the housing industry in any way lost their job.There is a lot that happened that I will not get into here. I learned a lot about banks, lenders, mortgage companies.
I learned that in times of crisis the very large companies do not care. This does not mean the individual employees but the corporations. And as I was listening to the news I heard something interesting. Smaller banks and credit unions are working with people who are out of work or furloughed…
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