Depressed and Angry in Rant Form
Well once again I am going to be without a fucking job. The way the market has turned we have lost 4 lenders in the last month. Deutsch Bank (the biggest bank that buys loans on Wall Street) has pulled the plug from the portfolio lenders and will not securitize any more loans. What does that mean to me? It means that of the 6 loans I had in the pipeline with these lenders are all dead and we are scrambling to find new lenders for them and that is not working out very well.
I was told at the beginning of August that my company can no longer afford to keep me on salary. I am more than welcome to work out the month of September on commission only, but as I see it no lenders=no loans being written=me working for free. The reason he wants me to work through September is because I have a pretty good bonus coming on my b-day. He said if I don't work I don't get it. My question is why wouldn't they be decent and give me my bonus as a severance pay and let me work a new job? My fear is that I will work through September and not get my bonus, kinda like they did with my vacation pay. They do not have a good track record of keeping promises in my book. They decided after I took my vacation that they could not afford to pay me for it, yay!!
We should have a loan closing on Friday, our only loan left on the books, but this loan has died and came back to life 4 times already so I will not count my chickens before they hatch.
I have been working at the American Legion bartending so I picked up 3 extra shifts last week to earn some extra money and all 3 shifts blew. During the summer in Florida it can get quite slow. Figures when I need it the most.
So now I have rent due and insurance and I am only about $600 short of payments that I have to make by next Tuesday, I HATE FINANCIAL STRESS!!
Rant off/
I was told at the beginning of August that my company can no longer afford to keep me on salary. I am more than welcome to work out the month of September on commission only, but as I see it no lenders=no loans being written=me working for free. The reason he wants me to work through September is because I have a pretty good bonus coming on my b-day. He said if I don't work I don't get it. My question is why wouldn't they be decent and give me my bonus as a severance pay and let me work a new job? My fear is that I will work through September and not get my bonus, kinda like they did with my vacation pay. They do not have a good track record of keeping promises in my book. They decided after I took my vacation that they could not afford to pay me for it, yay!!
We should have a loan closing on Friday, our only loan left on the books, but this loan has died and came back to life 4 times already so I will not count my chickens before they hatch.
I have been working at the American Legion bartending so I picked up 3 extra shifts last week to earn some extra money and all 3 shifts blew. During the summer in Florida it can get quite slow. Figures when I need it the most.
So now I have rent due and insurance and I am only about $600 short of payments that I have to make by next Tuesday, I HATE FINANCIAL STRESS!!
Rant off/
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TheJoeD on
Dude, that SUCKS.
The housing market is ridiculous up here, and they're going to make it harder for people like me to buy a house now, because other people bit off more than they could chew.
I'd float you the cash if I had it to spare :(
The housing market is ridiculous up here, and they're going to make it harder for people like me to buy a house now, because other people bit off more than they could chew.
I'd float you the cash if I had it to spare :(
Cavutto on
Damn, so sorry to hear that, Natanis.
Aren't prices of houses going down though, Joe? Maybe that will help balance it all out.
I dunno.
Aren't prices of houses going down though, Joe? Maybe that will help balance it all out.
I dunno.
natanism on
If I could only begin to tell you how many people I know who have tried to buy houses and could not get the financing because of credit restrictions. Our economy is fucked, let me tell you FUCKED! The feds lowered the interest rate they provide to banks last week to avoid a black Friday. If that tells you anything.
TheJoeD on
I've been saying that for a while, and everyone just brushed it off as me being a whiney complainer-head.
natanism on
When I started working for this company 3+ years ago Prime was at 4% now it is at 8.25%. Hmmm, doesn't take a rocket scientist to figure out that there is a problem there. Just let the Feds keep telling everyone they are trying to curb inflation. Yeah, ohh kay!
