This problem is not going away. The “Short Sale System” has to improve to take care of this human made disaster. A boon doggle that Bankers need to take responsibility for . Listen to the Head of the FDIC at the end of this RECENT VIDEO. (If you have to sit through a few YouTube advertisements this vid clip is worth it!)
Logic may point to SHORT SALES and the incentives to do them growing. I know of a story that is still developing, one that I am just about to BLOG. (RANT) I know of a Bank that is taking months just to take back a property after the clients agreed to give it up. This is not right and clearly the Deed in Lieu process at the end of HAFA is not impossible to do. It is very near the time to give out the name of this lender, and their contractor. Is it time for the FEDS to come in and break up one of these SUPER LENDERS that are making records profits when even the Government is losing money? Treating my clients in good faith is mandatory, or I am going to speak out for them. I will yell from hill and dale and to any Senate or Congressional Committee that will listen. THIS IS JUST WRONG!
Just like the story featured in this 60 minutes clip the BANK I am about to expose is hiding behind a Contractor who will blame another contractor and on and on. Bottom line we have to bring PROFESSIONALS with Authority to do Short Sales into the industry. Maybe it is time for me to put in a few job applications because someone is about to take some blame. I feel some job losses for Bankers who have seen fit, not to take action. If we can put man on the moon we can fix this problem! We just need the right people in charge! Right now it does not look like we have the right people at the helm.
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Good night Mrs. Kalabash where ever you are.