2.
Re: Are you in debt? Do you need money? Mar 3, 2009 5:25 PM
in response to:
markbee
It's funny how they say that the small businesses are the ones with the most employees, but when the small business owners are hurting there is no one there to help them out.
I own a real estate company, have great credit, but because the market is not there; what am I to do?
If you haven't closed on a property since the summer, you still have the bills from 4 years of being in business, so you have to borrow from your credit lines.
Due to no fault of our own, we lost 5 major property sales, due to the Buyer's defaulting on their purchase and 1 of those due to a Seller being greedy and wanting more for their property after we had everyting in order for it to close. These 5 transactions cost us over $250,000.00 in lost commissions.
So instead of helping us out, the ones working 80+ hours per week, the government gives our money to Wall Street, the ones who caused us to be in this position.
It was Wall Street who came up with all of the bright ideas of offering mortgages to those who could not afford them and it was Wall Street who packaged defaulted loans and good loans, so that Fannie & Freddie could take them over.
Now Fannie and Freddie are going to increase their fees, so that no one can purchase real estate.
When is this greed ever going to end?
Is there anyone who can help consolidate debt? I don't want to go into bankruptcy!
