| Pulaski Financial Names Matthew Locke Mortgage Lending President
ST. LOUIS, MO -- 10/15/07 -- Pulaski Financial Corp. (NASDAQ: PULB) announced today that Matthew Locke, 38, will be the new president of the company's mortgage lending division. In this role, he will be responsible for managing all facets of Pulaski Bank's mortgage business, including the company's appraisal and title divisions. Locke will also join Pulaski's executive officer team, which is responsible for the development and implementation of the company's business policies and strategies. "Matt joined Pulaski in 1997 and has a proven track record of success over the past ten years in the bank's mortgage, home equity and consumer lending areas," said William A. Donius, Pulaski's Chairman and CEO. "He has successfully built several of our existing programs from the ground up. He initiated our consumer lending program over ten years ago, launched our home equity program almost five years ago, and established our Kansas City loan production operation in 2002.
Foreclose Me ... I'll Save Money!
Despite all this, I would be willing to stay if the bank would refi the loans to a 30 year fixed, but since I'm not a ‘hardship' case they'd apparently rather foreclose. I guess the only way I could qualify for loan mitigation is to get my boss to fire me, stop making payments, and wreck my credit. In fact, my bank won't even talk to me until I miss a couple of payments. “I have purchased a cheaper place in a nearby area now, while my credit is good, and will stop making payments on house #1 after house #2 closes. I know the foreclosure will be on my credit for 7 years, but I will have saved a lot of money.
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Editor: It is unfortunate, but this is what things are coming to.
As most of you know, I was laid off from my regular day job about 14 months ago. I was making good money at the time, with some promises, so I bought a house. A couple months later, I was laid off. I did find a job a few months later for about 48% of my old income. Ouch, that hurt. I've since found another job, but still it's a lot less than I was making.
Home sales fall modestly
Tulsa wasn't immune to the effects of the national housing slump last year, but the drop was mild: 2007 area home sales declined just 5.1 percent from the year before.
An estimated 13,021 homes changed hands last year, compared with 13,722 in 2006, according to statistics from the Greater Tulsa Association of Realtors. Though the drop was the steepest this decade so far, sales remained well above 2001-2004 levels.
National home sales dropped 13 percent, the biggest plunge in a quarter-century and the second losing year in a row, the National Association of Realtors reported Wednesday.
Doug Horton, president of Northeast Oklahoma Real Estate Services, the multiple listing service that compiles home sales data, said the final tally was still strong.
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