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It sounds like good news to me!
posted by
mariposa75
on September 9, 2009 at 2:43 PM
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It is amazing how things can turn around quickly! I am very pleased for everyone! I do hope this can get finished soon, it would bring peace of mind for all! sam
posted by
sam444
on September 3, 2009 at 4:46 AM
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Of course
check out the fine print on any loans that come through. Getting a broker to find a loan says "commercial mortgage backed securities" to me. I hope your family business can keep its head above water.... We got a broker and got a loan -- no problem -- to buy our house with a fixed rate. Then the German bank sold the loan to CitiBank and we received a lower interest rate. Go figger.
posted by
WindTapper
on September 3, 2009 at 12:12 AM
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FSI - Hope all works out well for you and your Dad.
posted by
shobana
on September 2, 2009 at 11:05 PM
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FSI
Hangin' there takes a lot of courage and patience, good for you all will work out....
posted by
WileyJohn
on September 2, 2009 at 8:01 PM
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FSI, this is good experience for you...
I've been there several times. Each time you learn & get smarter. Treat the entire process as a job hunt. Don't rest till you actually receive the funds. Save all important contacts you make in the process. You never know, especially in today's highly competitive & fluid market, when & how things will change. I've had approved loans disapproved and vice versa at the last moment. The big guys, like Trump, play the lenders against each other and have them eat out of their hands. I'm not suggesting you guys try to do that now, but remember it is a business negotiation, and you have to learn to play with the hand you're dealt. The lending situation is expected to ease over the next 3-6 mos. So hang in there, keep up the fight, and keep learning, so one day soon your Dad can happily retire and proudly hand over the business to his smart son. You have my blessings! - Ash
posted by
ash_pradhan
on September 2, 2009 at 5:44 PM
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I can't imagine what you're all going through. But thank goodness the banks are beginning to lend again and that it's not too late for you. Do hope it all works out.
posted by
Rockingrector_retd
on September 2, 2009 at 9:45 AM
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I guess that any bank news is better than no news. BC-A, Bill’s Avant-Garde Collection
posted by
BC-A
on September 2, 2009 at 7:03 AM
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I remember when I was trying to get this place, so many banks turned me down, then out of no where this one got me a FHA fixed rate loan. I am still to this day leery of the loan
, its a complicated affair this banking stuff.
Good luck to you and your dad
posted by
Lanetay
on September 1, 2009 at 10:15 PM
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FSI
I guess it's too early to say 'congrats', but at least you can see the oasis in the distance...
posted by
Nautikos
on September 1, 2009 at 12:09 PM
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Sounds like you guys are closer to a resolution now.
posted by
Ariala
on September 1, 2009 at 7:03 AM
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