Five Star Institute Announces Frances Martinez Myers Among Top Industry Trailblazers
Francis Martinez Myers, the president of ETC was honored by Five Star Institute, a mortgage industry group along with other several distinguished women in the mortgage and housing industry at the 2011 MPact Conference and Expo that was held at Dec 4-6, 2011.
“This select group of mortgage and housing industry leaders gives testimony to the strength of our democracy and exemplify the importance of real leadership, above and beyond gender,” says Ed Delgado, CEO of the Five Star Institute. “It is our great esteem and pleasure to recognize these trailblazers for their substantive and continuing contributions to our industry and markets at a time when we need strong leadership the most.”
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How the Mortgage Crisis Is Really Affecting Your Transferees
By Frances Martinez Myers
Ed Stewart is a rising star for one of the nation’s leading fast food chains. Recently, he was offered a promotion to head the company’s southwest region – an opportunity he has had his eye on for a while. There’s just one problem, however: Ed can’t take the job because he’s upside down on his mortgage to the tune of $90,000 and his employer can’t cover the loss.
Ed’s circumstance isn’t unusual in today’s market. Like many homeowners, he cashed out his home’s equity through a refinance. When property values dropped, Ed found himself owing more on his mortgage than his home is worth and so wasn’t in a financial position to accept the job when the promotion came along.
The plummet in the housing market has created financial woes for American workers like Ed and challenges for employers that need to keep their businesses growing. Until the market recovers, employers will have to accommodate employees they want to promote and move to other worksites.