Ah, you have to love it when one of the members of the REIC gets all huffy when HP calls them what they are - biased charlatans who pretend to be on the side of the potential buyer, when they're just after that big fat commission of course.
Firstrung, of course, is on your side. Oh, except that
"Firstrung represents the leading mortgage packager and distributor in the UK"
Oopsie! They might, just might, be a bit motivated to make loans one would think, no? "Oh, no, Mr. Prospective Buyer, you don't want to buy that overpriced flat. No, no, no. We don't want to make a commission on a loan - don't do it!"
It must be tough though to defend a corrupt profession, one that is quickly going away as consumers get wise to the bursting bubble, the ponzi scheme, and the corrupt system that could care less about their welfare.
Check out the firstrung message board's HousingPanic thread (until they take it down), with the website administrator Iconoclast getting obviously huffy and defensive for HP calling a spade a spade. I could have called them worse of course - the words whore, leach and fake come to mind, but of course I'm too civil to suggest such a thing.
April 23, 2006
HousingPanic exposes UK's Firstrung.co.uk - another biased member of the real estate industrial complex
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8 comments:
You're threatening the whole bloody pyramid scheme!!
underpaid, undersexed, and over here. And mad as hell, and not going to take it anymore.
That's what the limeys are saying about Keith.
FirstRung sounds like one of those classic things the mortgage industry cooks up as the pool of available buyers dwindles.
Indeed, FirstRung appears to be a packager for subprime loans targeting first-time buyers who otherwise have no business getting into those mortgages.
and they'll be pissed, they'll want to blame the messenger, and they'll be coming after me
anyone offer up a safehouse?
Of course there is somewhat of a bias in their blog, as I'm sure you'll admit there is in yours (you seem to be advertising more "wealth preservation" books than real estate). But what struck me about firstrung is that more and more of their recent articles agree that the property bubble is very near its peak.
Read a few more articles on that blog and then be a sport and apologise if you think it's appropriate.
it's the company, not the blog, that is my beef
They are say they aren't biased.
There is a loan agent posting on the AOL real estate general boards telling people to buy before the interest rates go up. Say's he is not selling anything.
I've never understood Firstrung's posiiton of saying the bubble's about to burst (goes under the name of convrted lurker at houspricecrash.co.uk )so FTBs would be foolhardy to buy now and simultaneously on their web-site obviously promoting mortgages for first time buyers - Paul Holmes claims to have passed on 1000 applications from which he will undoubtedly earn a nice fee.
There is no connection between Firstrung and FirstRungNow.com.
At FirstRungNow we put across all the options for aspiring FTBs in a way that enables them to understand all the options and make their own decisions.
Helen Adams
www.FirstRungNow.com
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