Posted by ME/NJ on 9/5/07 1:35pm
Msg #209445

10 business days without 1 call

Never since I started doing this full time has this happened. WOW. For the last 2 days I have been sending out a ton of resumes and cover letters. Who would of thought this business could die over night.

Reply by JohnnyB on 9/5/07 2:03pm
Msg #209451

Have you been sending out resumes and cover letters for a new job or marketing to new clients in this field?

Reply by ME/NJ on 9/5/07 2:17pm
Msg #209466

No more marketing for me, been in this business for years. I know who will pay and payment schedules and they have me in there data base. Question is how many notaries in my area will do 40 - 50 dollar closings.

Alot of friends in the industry have lost there jobs and I am not sure if the ones left still have one after the last couple of weeks. Right now I need to make money to cover bills and its not happening here anymore.

What gets me is how fast it dried up.. poof over night nothing.

All I know is if I end the Corp and declare it Bankraupt alot of business lines of credit are not going to be happy. To bad my company had a very good DnB rating.

Reply by JohnnyB on 9/5/07 2:36pm
Msg #209479

You still have to continually market yourself. If you cannot weather the storm, then you may have to look for a job.

The economy cannot take what happened in August. Right now, many economists predict the Fed to lower a prime interest rate for the first time in four years. This may happen on 9/18. Things could change overnight again too.

Keep your chin up!

Reply by LindaD/NJ on 9/5/07 2:04pm
Msg #209453

I have one on the books for this week. The only call I had on my cell was a personal call. SAD SAD SAD..........

Reply by CJ on 9/5/07 2:20pm
Msg #209469

It seemed to me that the warning signs were in January, but business just kept moving right along, so I did not worry. Then I was looking forward to August being the busiest month of the year, like it has been for the past 7 years, and instead: Pffft!

Reply by SOCAL/CA on 9/5/07 2:42pm
Msg #209484

How could you people not see this coming. Lenders were making loans w/adj rate, prepayments, stated incomes, and the LO or brokers telling the brws to go ahead and sign, you can refi again in a couple of years. Well, here we are, the lenders have tightened their lending requirements and the brws with spotted credit are left out in the cold.

Reply by ME/NJ on 9/5/07 3:06pm
Msg #209493

My wife and I saw it coming last September

but silly me said nooooo we can make it work. She wanted to close shop over the winter, should of listen to her.

What I am doing now should of started 4 months ago.

Reply by JohnnyB on 9/5/07 3:24pm
Msg #209497

Re: My wife and I saw it coming last September

But this business will always come back. The market cannot freeze like it did in August or we will be in a recession. My neighbor works in a finance department for an auto dealership and business is down 30 percent. This type of credit environment is affecting everything.

Have you thought of a temp job till the tide turns?

Reply by Todd/OH on 9/5/07 3:44pm
Msg #209503

A recession isn't out of the "?"

I was hoping August would fill the tanks like last year - but NOPE !! I've been sending out resumes and cover letters right and left since May. The temp jobs are even hard to find. Remember, 30,000 jobs in the mortgage industry hit the bricks last month. That affects every notary - I am also surprised how quickly it happened. One of David Copperfield's tricks comes to mind.

Reply by Becca_FL on 9/5/07 5:41pm
Msg #209525

Todd, please email me. n/m

Reply by aatatusko on 9/5/07 7:37pm
Msg #209551

Me too, thought I was the only one. n/m