Real Estate Financing...

In case you don't recognize the relatively blooming bald (yet still somewhat subtle) patch on that young gent standing in front of the sign, it's me.  The place where I spent twenty-two years of my existence here on Planet Earth is a place called Clarion, Pennsylvania.  One of my best memories is that of a business that is still thriving and somewhat of a legend in many circles.  "Eddie's Dogs" is what we call it.  Bar-none, the best hot-dogs on earth, and I've attended a Harlem Globetrotter game in my life.

Eddie is the owner and should be proud.  In college, we probably gave him more crap than your local plumber can handle.  But damn if he doesn't make the most fantastic hot-dogs around.  And he has a pretty good sense of humor for a guy who looks like the Crypt Keeper never heard of moisturizer.

When attending back-to-back family reunions in my first visit to Clarion in years, we stopped by this legendary institution.  It really wasn't churning in my head that we'd be stopping at Eddie's.  I was there to help celebrate a monumental moment in my Aunt's Life and introduce the family to something other than a blow-up doll. 

And then we passed Eddie's.  At one point, he had two locations... one in Clarion (right across from a bar that was very popular among the college folks) and one that is shown in these pictures, which is the only operating one right now.  My only assumption is that he shut the other one down because it isn't exactly easy for a 195 year old gent to deal with a bunch of dumb smucks like me... let alone the Frat Boys.

All stupid analogies and restless attempts at humor aside, the guy took what he did and does for a living and made it into something pretty special.  If you want the best hot dogs in the land, visit him. 

As far as the sunsets and other memories, well, some things you just keep to yourself.  But they are good ones, none the less.

The most articulate version of the author's reaction to his first Taco Dog...

The one thing I find missing from our Capitalistic Climate lies within the very title of this post.  I deal with the lack of grace all the time and am damn sure I'm not the only one.  Too many instances arise when you help folks, guide folks, try and point them in the right direction, and all of the sudden they disappear.  Without notice, without a word.

Click here.

Perhaps they found a better deal. Can't win them all.  I'm cool with that.  That's competition and I don't fancy myself Rocky Marciano just yet. 

It puzzles me and makes me understand the "churn & burn" attitude so many sales folks have.  Get them in, get them out.  It's more of a one night stand than a relationship. Maybe that's the way it should be done?

But I disagree, especially when it comes to something like, I don't know, your house for example.  Do you really want to be sharing the sheets with Bill Maher when you can dance with Jon Stewart?  Mysterious analogies aside, I want to be advised by someone who holds some semblance of trust and credibility with me. 

I ran into a 'Rate Shopper' a few months ago and we've been in constant contact since.  His decision on which Lending Entity to choose came down to three. I was one of them. When he made his decision, it was based upon my fees being higher than the competitor and that competitor happened to be the Mortgage Company he had already dealt with. He sent me a pleasant email articulating his decision. I was quite shocked!  Not because of his decision per se, but because he took the time to let me know.  My response back was a grateful message thanking him for doing what so few do. His response verbatim is as follows:

"You're very welcome, Jason.  I felt that I owed you that in light of your helpfulness.  As someone who's essentially a missionary (financially), I raise all my support, and get frustrated when people don't have the thoughtfulness and/or courage to let me know they're not going to support us (or stop doing that). 

In any event, thanks for your kind words.  That means a lot to me, too.

Grace to you,
Bryan"

I'll take Bryan as a prospective client any day of the week, even though I didn't earn a dime in my communications with him.  He earned a reputation with me.  I think I did the same with him.  Reputation turns into relationships.  And while almost every relationship I've heard of has rocky roads to travel, that's the way to do business the right way.  At least until I find a goldmine under those covers with Bill Maher.

Smart Sales translate into closed deals.  Smart Sales is also ensuring it's a long term gig and not a short-term (and often perceived) fortune.

First let me preface (one of my all-time favorite words) this with a cold reality in the Lending Atmosphere right now:

• Nothing is easy.  I'm pretty lucky in that I have access to the ears and experiences of Lending Folks all over this Country, not just locally.  It's across the board.  Get on the gloves and realize that the days of two or three round fights are no longer the norm.  It will take a war of sorts, to survive & thrive out there.  Call it more Muhammad Ali/Joe Frazier than Mike Tyson/Michael Spinks.

I was more than shocked when I heard stories from various Retail Stores that are having trouble hiring.  I mean, we aren't exactly in the 'Best of Times' economically.  Are people not applying?  Are they instead spending $39.95 to learn the secrets to making millions while doing butt slides across their marble floors as money rolls in from that 'Best Kept Secret Nobody Knows About'?  Hey, maybe they looked up something online and realized they had a Rich Uncle in Rwanda and that lost fortune was now theirs?

Sadly, I suppose, none of that was the case.  It seems many Retail Stores require you to have perfect credit to get hired.  Let's call perfect credit 760 just for poops and grins.  850 is actually the number, depending upon the reporting agencies, but if you are over 740, you can probably give most White House Employees a lap dance and get paid for it.  Well, now I understand why they're having a bit of trouble hiring.

Before I ever got into FHA Lending, most of the business I did was Conventional... and some was the infamous Sub-Prime.  Those Conventional Folks had scores in the 700's most of the time and that was what I was used to dealing with.  Color me more surprised than when I learned that in this day and age, you need a 760 score at some of these places to make $10.00 an hour selling moisturizer obtained from a frog's lip:) 

It reminded me that while nothing seems easy in obtaining financing these days, we are still a bit more lenient and the outcome can be a whole lot more rewarding.  Sorry, but long-term homeownership eclipses looking like Joan Rivers for a hot moment.

Standard FHA Loans with most investors require a Credit Score of 620, no blood sample needed.

Conventional Loans, these days, are mostly a miss when it comes to payment/cost when your LTV is over 80% of the value/sales price of the property your financing.

While the process can be so convoluted and seemingly incompetent (when buying a home),... look at our freaking world!  Jimmy Fallon has a Talk Show!

Unless something changes and if you have a job, it's probably easier to qualify credit-wise to buy a home than work for a local Retail Store. 

Strange Days, Indeed.  Go out and buy a home with your 620 score.  Leave the Retail Stuff to the Credit Worthy;)