Posted by LynnNC on 7/28/09 9:55am
Msg #297646
The new ‘retirement’ plan: Just keep working
With nest eggs crushed, retirees rely on a paycheck — if they can find one
http://www.msnbc.msn.com/id/32086450/ns/business-personal_finance
We are fortunate that being a Signing Agent is something that we can do, regardless of age. I do worry, however, that now that there aren't many loans for cash out, business will dry up as more people take advantage of the low interest rates.
When I started four years ago, most loans I saw were for bill consolidation and cash out, rather than refinances to obtain a lower rate. I have had only three piggyback loans since March 2008.
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Reply by Les_CO on 7/28/09 10:15am
Msg #297659
I agree…It’s hard to get cash out if you owe more that the house is worth, and I don’t think we are going to see housing prices go up 20% to 50% a year again for some time. As you say most of the refi’s I’ve done are to people trying to get a lower interest rate. Once they get their lower rate they plan to stick with it. More and more Notary Signing Agents (Thank you NNA!) on a daily bases, and less and less work. My prediction: more and more $45 offers. JMO
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