Delta Financial was seen as doomed

Delta Financial was seen as doomed

There are 53 comments on the Newsday story from Dec 7, 2007, titled Delta Financial was seen as doomed. In it, Newsday reports that:

Delta Financial Corp., the Woodbury-based subprime lender that announced plans to file for bankruptcy Thursday, was a near-inevitable casualty of the current market for mortgage-related debt, a mortgage ...

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better times

New York, NY

#1 Dec 7, 2007
best of luck to all of delta.
Took a while

Hempstead, NY

#2 Dec 7, 2007
Wow they held out a while.... But, yes it was inevitable. People outside the Mortgage box are screwed...Thanks to the greed
No spellcheck at Newsday

New York, NY

#3 Dec 7, 2007
"The company, whose officials have not made any public remarks except a press release early Thursday monring,"
road kill

Oceanside, NY

#4 Dec 7, 2007
sadly this situation could have been avoided if there had not been so much easy money to lend for so long. to many fringe borrowers. rate resetting is a easy buzzword. but the problems in the mortgage business run far deeper than that. wait til the lawsuits and investigations start. it's a bigger mess than many think.
Red One

United States

#6 Dec 7, 2007
what will be the effects when the rate freeze thaws?
HAHA

United States

#7 Dec 7, 2007
HAHA, oh well at least I still have a job. I got out'a that shit whole QUICK
Boated

Torrington, CT

#8 Dec 7, 2007
You all are missing an important part of the equation ... delta said it "INTENDS" to file for bankruptcy. It has not done so yet.

Also, they are plan to file for Chapter 11 ... that allows them to hold off debtors and reorganize.

The horse aint dead yet. Close, but not yet. The market might provide the final nail in the coffin, but they are not there yet and still have a bout a 1% chance of survival.
radio

Brooklyn, NY

#9 Dec 7, 2007
HAHA wrote:
HAHA, oh well at least I still have a job. I got out'a that shit whole QUICK
I love it when you show your sensitive side.
JBizzo

Bronx, NY

#10 Dec 7, 2007
I'm glad I turned down a position there 4 years ago. They only wanted to pay me $35K, who can live on that straight out of college!?
non-owner occupied

La Jolla, CA

#11 Dec 7, 2007
EVERYONE is the subprime sector has taken a hit. Delta should be commended for staying afloat for as long as it/they did. Subprime is all but done for the foreseeable future.
non-owner occupied

La Jolla, CA

#12 Dec 7, 2007
Boated wrote:
You all are missing an important part of the equation ... delta said it "INTENDS" to file for bankruptcy. It has not done so yet.
Also, they are plan to file for Chapter 11 ... that allows them to hold off debtors and reorganize.
The horse aint dead yet. Close, but not yet. The market might provide the final nail in the coffin, but they are not there yet and still have a bout a 1% chance of survival.
They have NO assets, except their portfolio of loans. They MAY stay open, but you have a better chance of getting free food in a Chinese restaurant.
upstate bob

South Windsor, CT

#14 Dec 8, 2007
are they affiliated with a company years ago named delta funding out of great neck?the guy that ran the company was named sal arnone.
Good Vibrations

Brooklyn, NY

#15 Dec 8, 2007
Maybe people out here are starting to put their brain in gear before they put their pen in motion to sign one these sucker sub prime mortgages??????? Good another con company gone.
However these real estate agents are still trying to sucker people into deals with these sub prime lenders. It's a buyers market however buyer beware.
These agents would fugg there own mother 4 a buck.
Some good advice. Qualify for a mortgage first from a prime lender i.e. Citibank, Chase, Bank of America etc. FIND OUT HOW MUCH YOU QUALIFY FOR. Work within that cash you qualified for. Stay within your means. Keeping up with Jones could cost you dear;y down the road. Deal dierctly with the owner who is selling the house. Hey 6 to 10 percent commission could turn out to be a lot of money depending on the price of the house.
For God sake for once in your life don't be am "ICEHOLE" think before you leap.
I don't know if you feel sorry for the people at Delta????? Keep your ears open to find out what these executives at Delt ran away with.$$$$$$$$$
Come on let's try to use yours heads a liitle bit. The one your shoulder. Not the one beteween your legs
Duh

Bronx, NY

#16 Dec 8, 2007
Good Vibrations wrote:
Maybe people out here are starting to put their brain in gear before they put their pen in motion to sign one these sucker sub prime mortgages??????? Good another con company gone.
However these real estate agents are still trying to sucker people into deals with these sub prime lenders. It's a buyers market however buyer beware.
These agents would fugg there own mother 4 a buck.
Some good advice. Qualify for a mortgage first from a prime lender i.e. Citibank, Chase, Bank of America etc. FIND OUT HOW MUCH YOU QUALIFY FOR. Work within that cash you qualified for. Stay within your means. Keeping up with Jones could cost you dear;y down the road. Deal dierctly with the owner who is selling the house. Hey 6 to 10 percent commission could turn out to be a lot of money depending on the price of the house.
For God sake for once in your life don't be am "ICEHOLE" think before you leap.
I don't know if you feel sorry for the people at Delta????? Keep your ears open to find out what these executives at Delt ran away with.$$$$$$$$$
Come on let's try to use yours heads a liitle bit. The one your shoulder. Not the one beteween your legs
Did you just get home after drinking all night?
Yowza
Anthony Gumbari

Englishtown, NJ

#17 Dec 8, 2007
They were ruthless when it came to late payments, calling my job and neighbors. They would call me deadbeat now I call them deadmeat.
Boated

Torrington, CT

#18 Dec 8, 2007
Anthony Gumbari wrote:
They were ruthless when it came to late payments, calling my job and neighbors. They would call me deadbeat now I call them deadmeat.
That wasn't Delta. They were not a servicer.
Guest

Huntington Station, NY

#19 Dec 8, 2007
Anthony Gumbari wrote:
They were ruthless when it came to late payments, calling my job and neighbors. They would call me deadbeat now I call them deadmeat.
Hey Deadbeat...Oh I mean Anthony.....How long ago was that? Delta did not do their own Servicing therefore your payments would have been going some place else. I don't know anyone that would call jobs or neighbors if someone was late making their payments...even the credit card companies don't do that. Maybe you should focus more on paying your bills on time then trashing good companies!!!!
hmmmmmm

Bronx, NY

#20 Dec 8, 2007
JBizzo wrote:
I'm glad I turned down a position there 4 years ago. They only wanted to pay me $35K, who can live on that straight out of college!?
Funny how you think you're worth more than that 'straight out of college.'
arp

AOL

#21 Dec 8, 2007
all these companies idi this to themselves.i knew that one day the easy money would end.i refinanced three times each taking more money.to pay off credit cards,make some home improvemnts and so on,there was almost a forth and i backed out.this guy hounded me for months after that to do it.one day,i htought maybe he was right and called him.the number was disconnected and the company gone.now i am selling for the past 16 months with no luck.i am down to a price that will net me a very small gain but in a few months i may have to go to a short sale just to live.
Boated

Torrington, CT

#22 Dec 8, 2007
JBizzo wrote:
I'm glad I turned down a position there 4 years ago. They only wanted to pay me $35K, who can live on that straight out of college!?
$35K straight out of college. You should have jumped at it! Unless you're a lawyer of Harvard grad.

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