Sometimes, you just gotta get away!  This is me standing at the top of the mountain posing for that famous shot of Machu Picchu you see everywhere. Yes, it does look exactly like the photo!

Coming back to the mortgage world is a shock in surrealism!  The sky is still falling with Wachovia exiting the wholesale mortgage market this week and probably a few more to follow suit.  This is not the end of the collapse, maybe a little more than the middle.

The question is where do you the consumer turn to for mortgages when all the big boys have died?  Why, go back to the small, local savings and loans.  Look around your neighborhood and you will find a nice bank next to the drycleaners that would be happy to discuss your mortgage with you.

Find a Credit Union that you qualify to become a member of.  Credit Unions have a definition of membership. It can include geographic area, corporate employment, affiliation or even gender or religion. Not all of them offer mortgages, but those that do beat the banks! I have always been a big fan of the credit unions.  They have the personal touch in customer service.  If they do offer mortgages their guidelines are more flexible than big banks, their interest rates are typically lower and their closing costs will always be less.

Maybe it is time to go back to basic with lending.  Look around and you shall find. It ain’t over till the fat lady sings! -Dale Robyn Siegel