• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Wachovia Done For?

Status
Not open for further replies.

Alison Swain

Senior Member
Joined
Sep 13, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Heard a rumor today from a former Wachovia insider that they're about to be taken over by the government. Sounded like this action is imminent.

Anyone else heard anything like this? :shrug:
 

Anthem

Senior Member
Joined
Mar 10, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Only hearing that they are very vulnerable right now.
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
Eventually many large Banks will need a bailout.It will take years for this crash to take place due to government intervention.Should drag the recession on for 10 years.Thank you Mr. Big government.Quick , buy some beans and ammo..
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
corporate takeover

They also are in huge trouble with the IRS and State Dept of Revenue. Seems like they were screwing over staff appraisers on overtime pay in a big way.
 

Workbox

Elite Member
Joined
Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
corporate takeover

They also are in huge trouble with the IRS and State Dept of Revenue. Seems like they were screwing over staff appraisers on overtime pay in a big way.
I wonder if this would resonate with AMC's?
 

Financially Feasible

Senior Member
Joined
Jun 25, 2007
Professional Status
Certified General Appraiser
State
Pennsylvania
Quick , buy some beans and ammo..

I just planted my bean garden and have the seeds in the ground for my (supposed to be) 200 lb watermelons... if they get that big, I'll have an AF block party! :icon_mrgreen:

Regarding Wachovia, I only heard about the ouster of their CEO... but I got in late today so I haven't checked my news updates yet.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
JP Morgan Chase is set to buy them out. A few other big players are waiting in the wings to pounce including RBC.
 

dobie

Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
New Jersey
Not surprising. They're really bleeding.

That will be a bunch more unemployed staff appraisers, reviewers and management.

If it's JPMorgan/Chase, they use RELS/Quantrix I believe.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I hope Wacko lasts a while longer...doing some mineral work for their estate bunch... (no AMCs)
 

Kevin Little

Sophomore Member
Joined
May 25, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
If Wachovia fails and is taken over by the feds, that will send ripples through the financial institutions in general...bad, bad ripples of uncertainty & stock selloff...wonder what gold prices will hit?
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks