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In the Day of Vikings and Short Sale Negotiators?

At the height of the financial crisis with banks closing, lending institutions in trouble and mortgage fraud abundant in those closing mortgage brokerage firms you would think that many of those banks and institutions (after getting all that help themselves) would be out to help the consumer in trouble as well.

There are givers in this world....and then there are those that are strictly... takers.

Those that know me, know that I am particularly anal when it comes to details and being on the ball to ensure a timely manner for all those involved in a real estate transaction. I believe the "REAL" in Real Estate IS what this industry is all about. And when I am unable to do my job because of another 'team player' then I definitely am not a happy camper.

From the 8th to the 11th Centuries, the Vikings stole and pillaged goods and land from other people. They finally got it through their heads that they could not live by stealing alone and they were known for their trading skills, farming and so forth.

It seems to me that some of these lending institutions have the consumer on their knees with hardship circumstances and don't remember how easy it is to fall under themselves. You'd think they'd be out there to help those that are eligible to sell their homes under a short sale would be in the best interests of all.

No matter how I look at... it becomes stealing like the Vikings when they take their homes and land without a care in the world. It's stealing when a bank chooses to foreclose and not even bat an eyelash when they could have helped but thought it was just....too much work. It's stealing when they keep taking and taking from the government and the consumer....and don't give back.

How do they sleep well at night?

When are the consumers going to get more help?

Extend the TAX CREDIT for ALL homebuyers!

Hire more Short Sale Negotiators!

Posted by Celeste "SALLY" Cheeseman HAWAII Relocations & Real Estate on 09/23/2009 12:04 AM

Comments (19)

hawaii home seller, hawaii home buyer, tax credit for homebuyers, hawaii real estate professional

Originally posted at: Hawaii Real Estate & Relocations : In the Day of Vikings and Short Sale Negotiators?

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19 Comments on In the Day of Vikings and Short Sale Negotiators?

SEP

AMEN, Sister! I wonder the same thing but, I think that those whom we come in contact with at the lending institutions wish they could do more as well--unfortunately, the executives making the decisions are still claiming their bonuses and don't really care about anyone but themselves.

Great analogy too! Have a wonderful Wednesday!

Hey Debe....there are some that do care...and others that really don't. It gets frustrating to say the least. Especially those we cannot come in contact with :)

It is easy to make life decisions for other people when you are 3,000 miles away. They are only taking orders.

Harry said it also well, it reminds me of World War Two, the Infantry had hand to hand combat and needed to deal with the emotional issues if killing fellow humang beings....The Air Force had it easier they killed from 3,000miles away and went home to the pubs to clense their conscience....The Germans said theye were only following orders....

So something, someone, needs to step up and take accountability.

Harry: Yeah.. uh huh. I definitely would not want that "JOB".

Endre: I agree....and stop the 'killing'.

Sally, I've become so disenchanted with the way banks are handling short sales. It's a case of hurry up and wait.

You wrote: "It seems to me that some of these lending institutions have the consumer on their knees with hardship circumstances and don't remember how easy it is to fall under themselves."

THEY don't remember because THEY have not ever had the experience. THEY are a corporate entity with no human identity or memory.

Celeste, I vote for my favorite POST of the DAY . .you have capture the plight of the "villagers" and the Vikings are creating Havoc to our future financial stability. Great Post!

Sally, well put. It is so frustrating to hear these stories, and not just one here and one there. We hear them and live them over and over and over again.

My biggest frustration is that we the people have given many of these institutions funds to stay afloat and they are not allowing the trickle down to occur. They still seem to believe that foreclosure is the answer. In my book something is better than nothing. I wonder if the Tax Code was changed so that they could not write off the loses if there had been an opportunity to sell short and they let it go by without taking advantage of it, hmmmm now there's a thought.

This scenario has become all too common. It's unfortunate that 'we' cannot get face to face with the powers that be and work out a geniune and viable solution to these types of issues. But unless you are one of the 'blessed' in the banking industry, or a politician looking for support, these Vikings don't want to even acknowledge that the rest of the world exists.

Having tried to work out some loan modifications with 3 separate lenders in the last year (my personal properties) I can tell you, firsthand, that the term 'loan modification' is the punchline to a cruel joke. The standard comment from these 'modification experts' is, "Can't you borrow the money?" "You have a 401k, why don't you take the money from there?" And a short sale? Noooooo - I haven't stripped my retirement and pledged my kidneys to science.

Newsflash! Some bank is NOT going to get the last little bit of secuity I have left that will keep me from fighting the dog for his dinner! There is no easy fix ... but I am convinced that the banks could do a much much much better job of actually helping folks.

Sally ~ When a bank decides to foreclose and not accept a short sale it can be puzzling at times. More often than not it is the investor and not necessarily the bank per se. It is unfortunate when it makes good sense.

Sally, I don't get it either. They would rather ignore the calls, and let it foreclose than negotiate a short sale that would save them 30-40K

I have really started to lose my patience with the banks and servicing companies.

Don't forget, foreclosure may be far more profitable for the bank than short sale. MI, if there is any plays a huge role. Tax benefits also contribute.

Sally- I wrote a short article on Why Banks don't want to Help! Bottom line is it's more profitable for them to let people lose their homes. They have gotten millions to help people, and they're currently solvent so why waste time doing all that work for a Homeowner, when they can sit back and write off the losses.

Short sales are a big pain. They should have never givin a single dime to a lender.

Lenders are just heartless. It's a business of numbers that make them uncaring. As agents we are in a people business, making it difficult fo us to see homeowners and friends in such desperate situations with lender just shrugging them off.

It's all about the numbers and the number with the dollar sign next to it is the most important to the bank. They seem to make more money off of foreclosure these days than a short sale and that's pretty much all they seem to care about.

Sally, These bad lenders are still out there. I know because I know someone dealing with one....it's very, VERY sad but I guess there will always be those people out there and I can't figure out how they sleep at night either.

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