Having Trouble Getting A Loan Modification Or Short Sale Approved? You May Want To Check This Out

You make a great point, and I am thrilled we have some "thinkers" on here to decipher this kind of complex information and actually put those musings into words. 

It seems the government makes these snap decisions without taking the time, as you have, to analyze the pros and cons of their actions. What they are doing is creating dis-incentives to solve this mortgage mess. Sadly, people will justify profits over moral action, by saying they owe it to their shareholders. The end result is going to be a massive shift of wealth towards those that have plenty already.

Yup Citibank rode in to town (locally) and gobbled up Washington Mutual. 

Hmmm . . . interesting that the graph doesn't show many hits on the east coast.  Nothing in MASS, New York, etc.  West coast hit hard, south hard, mid-atlantic . . . Someone needs to develop a new MONOPOLY-esque game board . . .

"The history of Monopoly can be traced back to 1904, when a Quaker woman named Elizabeth (Lizzie) J. Magie Phillips created a game through which she hoped to be able to explain the single tax theory of Henry George (it was intended to illustrate the negative aspects of concentrating land in private monopolies). Her game, The Landlord's Game, was commercially published a few years later. Other interested game players redeveloped the game and some made their own sets. Phillips herself patented a revised edition of the game in 1923, and similar games of this nature were published commercially" [emphasis added] Cited  Smart woman!

We could call it:  The Lords of the Land

Thanks for sharing this Bob. Very interesting looking at that list and how old some of these banks are that failed. 

There will be no fix until they can convince the banks to work in a timely manner.  There is no incentive for BofA or anyone else to work a short sale in a timely manner.  The market is hurt because only investors are interested in waiting the time involved to get an answer on a short sale.

Robert

I read and commented on your other blog just a couple of days ago.  As evidenced by your hit count, you are to be applauded for taking the time to get this out.

Everyone of us whether Realtor or Mortgage Broker, and regardless of our Political affiliations need to bring the FDIC and ALL Politicians to the table to DEMAND Answers.

I for one will help to try to spread the word.

Thank you once again for your post and valuable insight.

Robert, thanks for the time. I will bookmark this.

Thanks for posting. This is something to think about. The landscape has certainly changed lately and information like this does help.

thanks for this information.  bookmarked for future use when working short sales.

It's distressing to hear how our tax dollars are, yet, once again...being totally mismanaged to the benefit of a few.

Bob: This is interesting stuff. While I have pretty good control of the short sales, I always like to have all the info--so that I can use it as ammo when necessary!

This is intriguing stuff Bob and an issue I was not aware of. Thanks.

Thank you so much for posting the list of banks.  This is a ridiculous waste of tax payers money and sellers' and agents' time when fighting an uphill battle.

Robert,

It's uplifting that we still have enough journalists, attorneys and other activists who are truly interested in knowing the real thing, digging up everything of what's going on. The country needs them.

Thanks for this info.  Nice to have someone out there delving into what's going on!

I know that the local community banks in my area have been hit pretty hard. I don't see much of an issue with the big banks though...

Thanks for sharing. I was unaware of this story till your last blog.  Please update if more info comes along.

They are making too much money no matter what happens to the property....unreal