This Article Is A Crock!

By
Real Estate Broker/Owner with J. Luis Properties, Inc.

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.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Groups:
Short Sales and Forclosures ONLY
Short Sale Specialists & Pre-Foreclosure Education
Short Sales Specialists
Short Sale REALTORS®
Short Sales Pre Foreclosures Bankruptcy and More!
Tags:
foreclosures
short sale
kendall short sale foreclosure specialist

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
914,899
June Piper-Brandon
Remax New Beginnings - Baltimore, MD
Piecing Dreams One Home at a Time

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. 

Aug 14, 2009 07:35 AM #1
Rainmaker
26,239
Buddy Kain
ChangingStreets.com - Clarkston, MI

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.

 

 

Aug 14, 2009 08:02 AM #2
Rainer
22,349
Noel Padilla
J. Luis Properties, Inc. - Kendall, FL
CDPE

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 14, 2009 08:32 AM #3
Ambassador
1,523,712
William Johnson
RE/MAX Associates - La Jolla, CA
San Diego Real Estate Voice, GRI CRS e-Pro CDPE

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 14, 2009 06:34 PM #4
Rainmaker
485,930
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

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

Aug 17, 2009 12:03 PM #5
Rainer
22,349
Noel Padilla
J. Luis Properties, Inc. - Kendall, FL
CDPE

Wendy

Wow I forgot all about that. Great point.

Aug 17, 2009 12:09 PM #6
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
22,349

Noel Padilla

CDPE
Ask me a question
*
*
*
*
Spam prevention

Additional Information