Essay: An Experience to Remember

Essay: An Experience to Remember
23/04/2011 Comments Off on Essay: An Experience to Remember Academic Papers on English,Sample Academic Papers admin

Sample Essay

This essay talks about a memorable experience.

With over 1.2 million people entering in this field it was expected that I would be facing intense competition, but due to my market research and abilities sooner rather than later I made a good position in the market. I learned the tricks and trade of the business as from where my buyers and sellers will come from and how I can market myself to capture them at the best value.

I did some research about the whole process of mortgages and after preliminary analysis I found out that the mortgage market is far more complex as most of the people think. The whole process begins with the consumer applying for a loan in a bank after that the bank takes that loan and sells it at a discount to another investment bank. The investment bank then converts those loans into bonds and sells it to the investors for much higher interest returns (Cook).

After one and a half years all seemed good, everything was going well and after a hard fought one and a half year I was able to open my own office. But suddenly the market collapsed due to recession all over the world. This was a very haunting situation as I was getting settled with my business and everything thing seemed to be perfect.  This was a very terrifying condition for my newly started business and at one moment it looked as all my dreams are coming to an end.

I consulted a real estate agent to seek out for advice and to learn more about this recession phenomenon and its repercussions on the real estate business. The consultant told me that basically recession has occurred because the banks were too aggressive and negligent in providing loans. Even those consumers were provided with housing loans that did not qualify for loans which eventually resulted in default in payments of monthly installments. Furthermore he told me that when the banks were not getting monthly payments they started to take loss on these loans but as I have told before how banks operates with this system these loans were sold to the investment banks and they were the ultimate losers  in this situation. The investment banks didn’t have another option but to offload this risk.

After some time the situation got worsen and its effect was started to felt on ground. Around 86 mortgage companies couldn’t resist with it and they were one out of the business. With no buyers in the market and no prospect of any improvement in the near future I was left with no other option to close the business.

I was left shell shocked with what just happened with me, my family supported me that time as they were the witness of my diligent efforts. I joined school again and persuaded my studies. It was quite an experience as it changed my thought process upside down. I realized the importance of having professional qualification and that without proper education growth was invisible.

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