Monday, November 5, 2007

These leads *&%*^$#@@ (leave something to be desired)!

The quality of direct mail leads hasn't changed. It's the circumstances these people face that is different

The subprime mortgage crisis effects the the people we mail to. Many of them are "victims" of these subprime mortgage loans and are unsure of what their mortgage payment will be when their rate goes up!


These are the same people that were banking on the equity in their home continuing to rise. Many took out equity lines or second mortgages and now don't have the equity left to support these loans.

The housing market is down, and many of the people who work in it are feeling the pain. The construction worker, carpenter, framer, electrician, plumber, etc. all were riding high when the new housing market was in full swing. Now, many of them, if they are still employed, have gone from 70-80 hour weeks making big overtime to 40 or less hours a week with no overtime. Income is way off, so many of them don't have down payments available.

Most special finance guys would walk away from this market because it's too hard to do the business. But then again, we're not most "special finance guys", are we?