Send me your examples of banks losing money because they turned down a short sale.
I've posted a few of my examples on the site for the entire world to see. See them here at http://www.BankFailBlog.com .
People who have better information will make better decisions. All we are doing is making a track record of these bank's decisions. Here is an example of how this works.
I have some economics knowledge in my brain. I just don't know how to explain the theories as well as an economist. To quote Wikipedia: "Pollution can be a simple example of market failure. If costs of pollution from a factory is not borne by the factory owner, but are borne by the workers, people in the community, or others, then prices are distorted."
Basically, the factory can pollute at will.
If I take the same sentence and change it to banks, then it would go like this. "Negligence and incompetence can be a simple example of market failure. If a $180,000 loss on a single house are not borne by Bank of America, or the negotiator, but are borne by Fannie Mae and the American Public, then the decision making process is distorted."
This will make it easier for Fannie Mae, Freddie Mac, and the American People to make better decisions on short sales and the short sale process.
So, please send me your bank failures to bankfailblog@gmail.com .
View the Bank Fail Blog at http://www.BankFailBlog.com.
Got questions about short sales? Just ask..
Ben & Chris Curry The Short Sale Agent's Advocate
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