Karen and Wendell Hodge's Blog

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Bug eyes - After listening to President Bush's Statement

The information below is from a lender we have a long relationship with. If you have any questions please call him and tell him where you received his information from. 

Have a great day!

Thank you,
Wendell and Karen

Hello All!!
After listening to President Bush's Statement on the Economy this morning and if you spend any time watching Headline News, you may come to the conclusion that mortgage companies and banks have no money to lend. Bush mentioned that banks don't have sufficient capital to make loans and this could lead any listener to believe that they cannot obtain a mortgage loan.


While there are liquidity issues with commercial paper which are short term loans made to businesses for the purpose of financing their day to day operations, the Federal Government is buying and insuring troubled assets and the Federal Reserve is making loans for these short term needs. This will alleviate these problems in time.


These issues do not apply to WR Starkey. WR Starkey is very liquid and has funds available for all loan applications. Our lines of credit with regional banks who are well capitalized are very stable. In addition, WR Starkey maintains its own cash reserves to prevent any issue with loan fundings month after month. We are enjoying a great year of production and profit despite the economic woes!

Please forward this message to any buyer who is concerned about getting a loan. The fears related to borrowing money are inflated. Credit worthy borrowers still can obtain a mortgage loan today!


I hope you have a great weekend! I will be available at 336-275-3008 Ext 222 (office) or 336-209-8819 (Cell) and would love to help you any time. Thank you for your support and business!



Darrell Boan
Branch Manager
WR Starkey Mortgage
300 E. Wendover Ave., Suite 201
Greensboro, NC 27401
336-275-3008 Ext 222 Phone
866-546-8997 Fax
www.darrellboan.com
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Re/Max of Greensboro
204 Muirs Chapel Rd., Suite 100
Greensboro, NC 27410
Karen: 336-317-0128
Wendell: 336-613-8369
Fax: 336-644-7779
0 comments • Karen and Wendell Hodge Caring for all of your Real Estate needs • October 10 2008 02:44PM

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