cwood78 161 Report Share Posted September 19, 2012 have been talking to ceo of a bank(s) in this area, is very concerned about alphas layoffs, lending is going to be very strick...he looks for alot of repos, i asked in what manner, trucks, cars, atvs, boats, homes, he added ,and alot more. in retrospect, a couple of years ago, and lately, run into lets say young miners, drivin, lifted f-250s pullin boats, campers, atvs and the like, some of them i knew, i told them boys you'd better put some of that money in the bank...........thier reply was...."if anything happens we'll just let the bank have it".................i told them there was more to it but.................................:cool: Quote Link to comment Share on other sites More sharing options...
Deleted Account 5,203 Report Share Posted September 20, 2012 have been talking to ceo of a bank(s) in this area, is very concerned about alphas layoffs, lending is going to be very strick...he looks for alot of repos, i asked in what manner, trucks, cars, atvs, boats, homes, he added ,and alot more. in retrospect, a couple of years ago, and lately, run into lets say young miners, drivin, lifted f-250s pullin boats, campers, atvs and the like, some of them i knew, i told them boys you'd better put some of that money in the bank...........thier reply was...."if anything happens we'll just let the bank have it".................i told them there was more to it but.................................:cool: I'm glad to see that the banks learned their lessons from the 2008 collapse. Quote Link to comment Share on other sites More sharing options...
GMan 3,569 Report Share Posted September 20, 2012 Banks aren't the only businesses concerned about the layoffs. Quote Link to comment Share on other sites More sharing options...
sandman 13 Report Share Posted September 20, 2012 have been talking to ceo of a bank(s) in this area, is very concerned about alphas layoffs, lending is going to be very strick.................................:cool: Very strict? The prime lending rate is about 2.50%. The banks are giving loans away. Quote Link to comment Share on other sites More sharing options...
Deleted Account 5,203 Report Share Posted September 20, 2012 Very strict? The prime lending rate is about 2.50%. The banks are giving loans away. Low interest /= easy to get loans. I've seen people who (1) are unemployed, (2) have double-digit judgments, (3) an awful credit score, and (4) have multiple foreclosures get loans that people in significantly better shape cannot. It's inexplicable. And this isn't 2005. This is 2010 onward. Bankers have learned little, if anything, about properly giving people loans in this day and age. It's mind-boggling to me that people who see more foreclosures in a month than I will in my whole life still cannot create a halfway manageable guide for it. I swear, I think some bankers use the South Park system when giving loans: http://www.youtube.com/watch?v=wz-PtEJEaqY. Quote Link to comment Share on other sites More sharing options...
bhs7695 185 Report Share Posted September 20, 2012 Very strict? The prime lending rate is about 2.50%. The banks are giving loans away. Only to people that don't need money are bank loans a possibility right now. Quote Link to comment Share on other sites More sharing options...
sandman 13 Report Share Posted September 20, 2012 Only to people that don't need money are bank loans a possibility right now. I can say that my experiences have coincided with post #5. Quote Link to comment Share on other sites More sharing options...
redtiger 1,742 Report Share Posted September 21, 2012 I have worked tax paying jobs for 8 years now and have made good money for the hours I have worked but nothing great. I was FLOORED when I saw how much money I could get on a loan, rediculious. I always thought of loans in I guess a childish, simplified way; you work hard and when you do good then you can take out a sizeable loan, you have earned that right. Thats not the case. Credit card limits are even crazier but atleast those make some sense, credit card companies want you to be n debt for the rest of your life. The whole system is screwed up Quote Link to comment Share on other sites More sharing options...
GHS89 77 Report Share Posted September 21, 2012 The problem is that people think they can afford something just because somebody will give them a loan for it. A word of advice for the young folks on here. Just because somebody approves credit for something, that doesn't mean you can afford it. I could walk on to any car lot and be approved for a $50,000 vehicle, but you'll not see one in my driveway anytime soon. Quote Link to comment Share on other sites More sharing options...
2000wave 67 Report Share Posted September 28, 2012 have been talking to ceo of a bank(s) in this area, is very concerned about alphas layoffs, lending is going to be very strick...he looks for alot of repos, i asked in what manner, trucks, cars, atvs, boats, homes, he added ,and alot more. in retrospect, a couple of years ago, and lately, run into lets say young miners, drivin, lifted f-250s pullin boats, campers, atvs and the like, some of them i knew, i told them boys you'd better put some of that money in the bank...........thier reply was...."if anything happens we'll just let the bank have it".................i told them there was more to it but.................................:cool: what a lot of people don't know tho is that the 70 miners laid off in Appalachia have the option to come to mcclure/DM41, in which 40 some of them did, a few retired and the rest took severance pay...So the Alpha lays offs wasn't as bad as everyone put it to be..for this area that is...Not sure on WV, PA and Ky tho.. Quote Link to comment Share on other sites More sharing options...
redtiger 1,742 Report Share Posted September 28, 2012 alot took their severance pay and im sure will be signing up for their 2 years of unemployement asap! Quote Link to comment Share on other sites More sharing options...
2000wave 67 Report Share Posted September 29, 2012 Not if Alpha offered them a open position somewhere and they refused it ... Quote Link to comment Share on other sites More sharing options...
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