Scott Youngman, credit and collection manager says, “…if you allow
those individuals in, ultimately you are going to increase your bad
debt.”
Hey Scott, can we talk about setting up a referral program? Say, $25
for every lead you turn away that I move in?
Stay Fluid…
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I agree with you. With that type of logic, he assumes that essentially there has been a several fold increase in people who are inherently risky individuals. I just don’t get that – why would people suddenly become so much more risky? This attitude places no blame on the lenders/etc. Therefore, there are tons of people who got caught in a one-time situation but remain good overall credit risks, maybe offset with a higher deposit. This should be a time where our industry really comes together and tries to bring these people back into the fold (in a responsible way, of course). I don’t see that type of coordination in our industry right now, however.
Agreed. Foreclosures (hello, does anyone read the news?) right now are not so much the fault of the home owners, but of the sneaky lenders.
I’d take them too.