Holy crap, I am freaking out...

Discussion in 'Community Discussion' started by nospleen, May 7, 2006.

  1. nospleen macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #1
    I sold my house about two months ago. The buyer wanted to close asap, so I bought a new place. Well, his financing fell through and the house is back on the market. So, I have two mortgages now. I was thinking, well, a big deal, but I will get through it. I am a loan officer at World Savings and I am doing pretty well. But, I just go over to CNN Money and see this!! http://money.cnn.com/2006/05/07/news/companies/goldenwest_reut/index.htm

    I emailed my Boss and he just found out too.

    I am a Loan Officer in Retention. Soooo, I am wondering if I will even have a job now!! CRAP!!!!:eek: :(
     
  2. jsw Moderator emeritus

    jsw

    Joined:
    Mar 16, 2004
    Location:
    Andover, MA
    #2
    Best of luck. I know what it's like to have that particular sword (the job, not the houses) dangling over your head. Hopefully, your job is safe, and, regardless, I hope you re-sell your house soon.
     
  3. nospleen thread starter macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #3
    Thanks for the kind words! I never saw this coming...
     
  4. amateurmacfreak macrumors 6502a

    amateurmacfreak

    Joined:
    Sep 8, 2005
    #4
    I don't know the logistics of this, but I, of course, hope you make it through this hard time.

    Best of wishes. :)
     
  5. CanadaRAM macrumors G5

    CanadaRAM

    Joined:
    Oct 11, 2004
    Location:
    On the Left Coast - Victoria BC Canada
    #5
    If your housing market is anything like here, you should be able to resell in a few days for $10 - 20K higher than last time...
     
  6. nospleen thread starter macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #6
    I wish, I am from San Antonio, Texas. The market is better than it has been, but that does not say much.
     
  7. Stridder44 macrumors 68040

    Stridder44

    Joined:
    Mar 24, 2003
    Location:
    California
    #7

    Agreed, everything will work out fine. Just stay calm and "git er don".
     
  8. iGary Guest

    iGary

    Joined:
    May 26, 2004
    Location:
    Randy's House
    #8
    Rob is a branch operations manager for Countrywide - PM me - maybe he can find something in Texas.
     
  9. nospleen thread starter macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #9

    Thanks! I certainly will. I am headed to work in a few minutes and should learn more at that time.
     
  10. baby duck monge macrumors 68000

    baby duck monge

    Joined:
    Feb 16, 2003
    Location:
    Memphis, TN
    #10
    Hopefully the will keep you on even if the merger goes through. A lot of the time it's easier just to take over and leave everything running as-is than it is to try to restructure. And if they are planning to restructure, it's also possible that they will wait until they have a better idea about how things are running before they decide what specific changes to make.

    /crosses fingers for you
     
  11. nospleen thread starter macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #11
    I hope this is the case. World Savings was huge on retention. The average percentage of people who use the same lender twice in a row is about 5%. But, with World, it was around 35%. I just hope that Wachovia is as big on retention. One good thing is that I have funded the second highest number of loans year to date for Retention. We have around 50 Loan Officers in our department. So, hopefully I can at least keep a job based on my past success.
     
  12. baby duck monge macrumors 68000

    baby duck monge

    Joined:
    Feb 16, 2003
    Location:
    Memphis, TN
    #12
    It sounds like you're a stand-out employee in a company with a strong record. Things are looking better and better that they will keep things the same (or, failing that, at least keep you)!
     
  13. nospleen thread starter macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #13
    That is what I am hoping for. Time to hang the Top Funder, Top Producer, and Employee of the Month awards in the office. :p Cross your fingers, off to hear the spin...
     
  14. baby duck monge macrumors 68000

    baby duck monge

    Joined:
    Feb 16, 2003
    Location:
    Memphis, TN
    #14
    Well good luck, and keep us posted both on that and how the house-selling goes! I would have been pretty bummed about that falling through (and having to pay on 2 mortgages) even without this whole thing with your job. Hopefully you will find a new buyer (at a higher price) and you will still have your same job (or maybe they'll promote you ;) ), though!
     
  15. dmw007 macrumors G4

    dmw007

    Joined:
    May 26, 2005
    Location:
    Working for MI-6
    #15
    Sorry to hear about your situation nospleen. :(

    But based on your track record, it sounds like everything should work out okay for you. :)
     
  16. floriflee macrumors 68030

    floriflee

    Joined:
    Dec 21, 2004
    #16
    I know the market in San Antonio isn't exactly like it is here in D.C., but I suppose you do have the summer market buyers working in your favor. It's probably a good thing the housing thing happened when the buying season is at a peak so hopefully it won't take too long to sell.

    I'm surprised they didn't give you any advance warning about the takeover.... :(
     
  17. jadekitty24 macrumors 65816

    jadekitty24

    Joined:
    Oct 19, 2005
    Location:
    The poor section of Connecticut
    #17
    Well, with no spleen I would be freaking out too.
    (Sorry, I've been resisting the urge to say that for a long time.)
    Sorry to hear, I hope everything turns out ok. Your situation is definitely "Holy Crap!!™"-worthy.
     
  18. nospleen thread starter macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #18
    LOL! :D
     
  19. nospleen thread starter macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #19

    Not even a peep...
     
  20. nospleen thread starter macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #20
    I like the way you think. Well I am in the office now. Things are very quiet right now, never a good sign. :confused:
     
  21. iGary Guest

    iGary

    Joined:
    May 26, 2004
    Location:
    Randy's House
    #21
    Well you could always walk into work with an automatice rifle and lots of ammo...that works for some people. :D :p

    Seriously though, take it one day at a time and try not t worry too much about things you may not be able to control. Been in your position before. Good luck.
     
  22. nospleen thread starter macrumors 68000

    nospleen

    Joined:
    Dec 8, 2002
    Location:
    Texas
    #22
    Thanks for the kind words iGary. I am not terribly, terribly worried. But, I am definately a little anxious. My wife stays at home with our two children, 2 and 3. I would hate for her to have to go back to work.
     
  23. 2nyRiggz macrumors 603

    2nyRiggz

    Joined:
    Aug 20, 2005
    Location:
    Thank you Jah...I'm so Blessed
    #23
    Best of luck fella....you will be alright.


    Bless
     
  24. Chip NoVaMac macrumors G3

    Chip NoVaMac

    Joined:
    Dec 25, 2003
    Location:
    Northern Virginia
    #24
    Just keep the Faith there guy. I know from first hand experience that when things look bad, they will get better. Just look at my posts from last year. :)
     
  25. Cooknn macrumors 68020

    Cooknn

    Joined:
    Aug 23, 2003
    Location:
    Fort Myers, FL
    #25
    I went through the corporate buyout thing as well. Worked for a $20M family owned business and got bought out by a $6B corporation. It got dumped on everyone at the same time - totally surprised most of us. Scared the heck out of me and I thought for sure I'd lose my job. But I adapted to my new environment and here it is three years later and I'm still working in the same office - new job though! Making more money and with *much* better benefits, BTW. Just keep the faith and do what you can to keep yourself valuable to the new management. Everything should work out fine :)
     

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