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This Article Is A Crock!

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=221622

I believe it was very irresponsible of the FAR to post this article. It never mentioned other costs associated with foreclosures, ie: vandalism, electric bills, maintenance costs, water bills, attorneys fees etc. Also banks rarely go after homeowners for the deficiency. They file the judgment but never pursue it because guess what, it’s another expense. Do you really think the bank servicer is going to come out and say: “If we drag out these short sales for as long as possible we can keep collecting servicing fees from our investors.” Sounds like someone is trying to keep their REO business intact or the manager at the asset management company is full of crap.

Posted by Noel Padilla, CDPE on 08/14/2009 02:28 PM

Comments (6)

foreclosures, kendall short sale foreclosure specialist, short sale

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6 Comments on This Article Is A Crock!

AUG

Like all story's there are two sides to each one and authors do not always dig very deep to properly do their research and this certainly seems to be the case here.

That article is awesome! I love how NAR, and all the local associations are handling the situation we are in...why doesn't anyone ask us those in the trenches what is really going on out there. In Flint & Detroit MI there is a built in discount when it hits bank owned in the MLS.

I will not even mention the copper theft, flooding and all the other amazing things that happen to reduce the banks take.

Great post you made our weekend!

Rock On.

Bank Asset Manager....nice title but that's all it is. Hell I'm President and CEO of Noel Padilla, I must really be important. The sad fact is most of these people with titles are clueless as is most of our fellow agents. They get paid to make as much revenue as possible and if that means B.S.ing anyone they can to believe them then so be it. I know folks who say stuff to sound intelligent and if you don't know any better you buy it. I have a perfect defense mechanism, I don't believe a soul until I see it for myself. This article really has me ticked because I run across these same B.S.ers who call themselves Realtors and they are screwing up the market so bad.......ARGHHHH!!!!

AUG

Hi Noel, I am delighted I subscribed to your blog. You make a great case and one that seems to be more true than many of us would prefer. We have all seen it, scratch our heads and wonder what could these real estate people and especially the bank subordinates be thinking? I do think they were made for each other. I like most other real estate professionals have grown tired of the grand mess that is being created. We should change to our REALTOR oath to that of the medical professional. Do no harm, :-)

AUG

Noel - One point the letter-writer missed is that the banks don't do the negotiations with the junior liens, associations, etc., WE do...

Wendy

Wow I forgot all about that. Great point.

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