Boiler Room - Kawasaki ZX-10R.net
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 11 Old 08-31-2012, 12:03 PM Thread Starter
Post Whore
 
Older Guy's Avatar
 
Join Date: May 2004
Location: Newport Beach, CA
Posts: 5,948
Posting Frequency
           
Boiler Room

My business failed and I had to close it down last Friday.....lost $250K...we tried to run an honest business in a dishonest business environment doing loan mods...

And of course, nobody wants to hire someone who ran his own business...

I interviewed with several companies and they're all horrible....requiring you to work 55 hours a week, including every Saturday...etc., poor working conditions, etc...

They say they want to hire you and then you never hear from them again...

These two brothers said they wanted to hire me and I left them 5 messages and they never got back to me...one brother said his other brother wants to talk to me...when I called the other brother he was clueless.

So I went to work with a guy that had one desk open....it's 1099 and commission only....so you work and only get paid if you close a loan mod deal.

Now that I've been here 3 days, these people lie to everyone on the phone. Tell them they've been approved (bullshit), they they will get a 2% loan fixed for 30 years (complete bullshit) and on and on...

Their telling people with debt ratio's of 28% they qualify and the damn guidelines are a minimum of 38% DTI to qualify....all these people are going to get denied....

They don't know the guidelines and don't care...when I mentioned some guidelines, they get VERY defensive....

So being 66 years old, totally broke and only getting $1,300 in Social Security income.....I'm screwed...

But I can tell you, with what I"ve seen, our country is completely doomed...

The business of business is swindling people...

Rant over....maybe my next life will be better....


Last edited by Older Guy; 08-31-2012 at 02:03 PM.
Older Guy is offline  
Sponsored Links
Advertisement
 
post #2 of 11 Old 08-31-2012, 12:13 PM
vr6
GP Star
 
Join Date: Mar 2008
Location: Connecticut
Posts: 4,603
Posting Frequency
Images: 5
       
My buddy and I talk about this all the time... trying to be honest in business.

It does NOT WORK!!!!!

You are not on a level playing field. It's what you can get away with; sadly.

Perhaps a career change is in order. I know your 66 but who gives a "truck".

Take the same drive that got you this far and apply it somewhere else...

Hang in there bro!

Boiler room; awesome movie!
vr6 is offline  
post #3 of 11 Old 08-31-2012, 12:20 PM
WSB Rider
 
Join Date: Jun 2012
Posts: 634
Posting Frequency
   
:iamwithst
Hang in there mate!

Even insurance companies lie over here.
I found this out when getting insurance for my 10!

Very poor!

Rob
trebor27 is offline  
post #4 of 11 Old 08-31-2012, 12:37 PM
Team Green Baby!
 
ShinobiZXR's Avatar
 
Join Date: Jul 2009
Location: New England
Posts: 1,518
Posting Frequency
        
Send a message via Yahoo to ShinobiZXR
I used to work for a mortgage company back when the housing market was booming. I was their IT guy. There were some loan officers there that will do almost anything to close the loan and make money from the commission. This part of the reason why this country is in the state it's in now. People lie and will approve anyone. Even a stated income was sufficient! :headshake There are some honest loan officers out there though but far and few.

If you think that it's not morally right to work with these kind of people. I would try to look for another place. It's just not something I'd look forward to waking up in the morning knowing the people you work with are screwing people over for their honest pay or money. GL either way...

When In Doubt, GOOGLE IT!
ShinobiZXR is offline  
post #5 of 11 Old 08-31-2012, 01:34 PM
Chairman of the Board
 
or10r's Avatar
 
Join Date: Mar 2008
Location: Central Florida
Posts: 15,986
Posting Frequency
Images: 17
           
Garage
Dont give in to the BS OG. Sometimes the only pay off in doing the right thing is knowing you did the right thing and in the end you can walk out of any situation with your head up. Hang in there Bro and just keep doing the next right thing.

or10r is offline  
post #6 of 11 Old 08-31-2012, 01:54 PM
Slow Poke
 
bgmagma10's Avatar
 
Join Date: Apr 2007
Location: Tulsa ok
Posts: 5,584
Posting Frequency
Images: 10
           
Man I'm sorry to hear and I completely agree, our world is just Goin to shit one dumbass after another. It is very hard I find honest people anymore. It's really sad. Hope it gets better for you OG. Keep your head up.


Sent from my Motorcycle iPhone app
bgmagma10 is offline  
post #7 of 11 Old 08-31-2012, 02:04 PM Thread Starter
Post Whore
 
Older Guy's Avatar
 
Join Date: May 2004
Location: Newport Beach, CA
Posts: 5,948
Posting Frequency
           
I wish someone in Orange county could get me an honest job with a real company that doesn't fawk people...

Older Guy is offline  
post #8 of 11 Old 08-31-2012, 04:16 PM Thread Starter
Post Whore
 
Older Guy's Avatar
 
Join Date: May 2004
Location: Newport Beach, CA
Posts: 5,948
Posting Frequency
           
I just got this e-mail:

Hey Steve,
It’s not working out man I will talk to you on Tuesday!!!! Come to my office as soon as you come in on Monday!

Older Guy is offline  
post #9 of 11 Old 08-31-2012, 04:37 PM
Champion Rider
 
Squidward's Avatar
 
Join Date: Jul 2011
Location: DFW TX
Posts: 352
Posting Frequency
 
Early in my career I worked for a company in Anaheim Hills that had a boiler room style phone sales department. They were selling websites left and right... 30+ tweaked out phone sales people just hammering away promising the world to these unsuspecting victims.

Honest business does exist... you just have to stay true to your beliefs and the rewards will follow.
Squidward is offline  
post #10 of 11 Old 09-01-2012, 09:37 AM
Champion Rider
 
Join Date: Sep 2011
Location: NYC
Posts: 372
Posting Frequency
  
Sorry to read about what's going on. Hope things turn around fast. For those people, it's a numbers game. Also people that have good credit and don't have a problem getting a loan, will simply go to a bank or credit union. I don't see them getting a loan from a call.

So now the person that processes the paperwork has 500 bad applications. Instead of denying all 500, they'll accept the 10% that aren't so bad. The guys on the phones know that and basically don't care since there's a chance one of their apps get approved.


Last edited by enrico vespa; 09-01-2012 at 10:38 AM.
enrico vespa is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Kawasaki ZX-10R.net forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Similar Threads
Thread Thread Starter Forum Replies Last Post
A Little More Leg Room? cjd223 The ZX-10R 18 05-16-2010 02:35 PM
Running out of room! elninja_10r The ZX-10R 6 03-02-2009 04:20 PM
The geek room rocketracermike The Out House 28 06-29-2008 06:13 PM
Leg room limweshe The ZX-10R 12 03-20-2007 05:54 PM
What a living room should look like RMK Pictures and Videos 21 02-04-2005 12:01 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome