WRAP YOUR BRAIN AROUND THIS...PREFORECLOSURE TRUTHS

I specialize in preforeclosures and have become increasingly aware that many realtors are not understanding what is really happening out there.  This is just the tip of the iceberg, there is so much more to consider.  Stay with my rabbit trail and maybe those that are in the dark - will find a little light:

John and Jane Doe have a loan with ABC Mortgage that is 5 months past due.  It is listed with Chris Icandoit with Super Realty.

ABC Mortgage is owned by (or gets their funds from) 1234 Inc., which is a subsidiary of Anywhere National, which is also a subsidiary of Every Americans Insurance Company. 

EAIC had a stellar year 2007 with profits soaring past planned expectations.  They need liabilities to balance their portfolio which is heavy with assets.  Enters ABC Mortgage (that wouldn't accept partial payments from Doe's) with bad loan debt.      Why? Hmmmm....

Chris Icandoit with Super Realty can not understand why ABC Mortgage is taking so long to respond to her short sale offer (Only $7K short). No one will call her back, and she can't get past the revolving Loss Mitigatiion Intake Department.       Why?  Hmmmm....

ABC Mortgage has just laid off record numbers of employees, including loss mitigation asset managers due to the "current economic" conditions.   Why the layoff when deep pockets EAIC is big daddy?  Hmmmm....

By the way, Doe's mortgage has Mortgage Insurance that offsets loss for ABC Mortgage.    Why?  Hmmmm....(Pssst - thank you Uncle Sam)

Here's your twilight zone moment....do you know HOW MUCH money lobbyists for EAIC, um -  I mean the insurance industry - drops at the steps of Congress?  Hint: bigger than huge.     Why?   Hmmmm....

Does this make sense now? It all appears to be quite a mess, and it is.  But a mess by design, not default.  How's your brain wrap?  Hold that thought, there's more, but.... next time.