I think most people would agree that now is not the time to be thinking about starting a mortgage brokerage.
Countrywide Home Loans (NYSE: CFC)made headlines Thursday by announcing that they had secured a $11,300,000,000 line of credit (wow! that's a lot of zeros!) and then accessed it less than 24 hours later to help with cash flow problems. That has the stock market worried about their solvency, and has started talk about bankruptcy for the lending giant.
If you have the dream of starting a mortgage brokerage, you need to hang tight. Now is not the right time. Part of being a good entrepreneur is knowing when to jump in, and when to stay on the sidelines.
Right now is one of those times you need to stay on the sidelines.
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