Ok so I basically know nothing about Mortgage, loans, or the stock market. The only way I'm aware of what is going on is because my two roommates (which happened to be my cousins who are sisters) as well as their father (who is the branch manager for AHM in our town) all worked for a large Mortgage company called American Home Mortgage. So about two weeks ago they came home saying they were losing their jobs because the company was going bankrupt. They said something about the owner playing with the stock market and that's why all the money was lost...
They all were recruited by another company called Charter Funding, they had their first day in the new office this last Monday and today they called and told me that this new office had just gone under and they had lost their job AGAIN. So something major is going on with mortgage companies everywhere, they are dropping like flies. It's so scary because people who are in the middle of getting loans and people who have already been approved are now losing their funding and are having to stay in hotels because they can no longer buy the house they had the loan for!!!
Now I guess it all has to do with the stock market but do any of you know how they relate to one another and what is going on??
They all were recruited by another company called Charter Funding, they had their first day in the new office this last Monday and today they called and told me that this new office had just gone under and they had lost their job AGAIN. So something major is going on with mortgage companies everywhere, they are dropping like flies. It's so scary because people who are in the middle of getting loans and people who have already been approved are now losing their funding and are having to stay in hotels because they can no longer buy the house they had the loan for!!!
Now I guess it all has to do with the stock market but do any of you know how they relate to one another and what is going on??
