Why are banks foreclosing when they lose money? originally published on L/A Maine Real Estate.

Why are banks foreclosing on Maine homeowners when they lose money by doing this?

Maine foreclosure messThis is the question on many people's minds. Logic and reason seem to be missing from the foreclosure crisis facing many homeowners in Maine and across the country.  The tale of what happens to how a bank is run when it grows from a smaller state bank into a national bank sheds some light on this situation.

Yesterday, Thomas A. Cox, the Maine attorney who uncovered the robo-signing foreclosure scandal, wrote a great post that starts to explain some of what is going on with foreclosures in Maine.

If you are facing foreclosure in Maine, be sure to call the Maine Foreclosure Prevention Hotline 1-888-664-2569.

The earlier in the process that you call them, the more options they have to help you.

 

 

 

 

 

 

 

The Maine Real Estate Network - Kristen Wheatley - Lewiston-Auburn Maine Real Estate

Maine Realtor Kristen Wheatley  

Kristen Wheatley is a Maine Realtor working and living in Central Maine.  She specializes in the sale of residential and investment property in the Lewiston-Auburn area and surrounding towns.  Kristen uses the latest tools and mobile technology to provide a superior experience and results for her clients and enjoys sharing these technology skills and teaching other real estate professionals and local small business owners.

The Maine Real Estate NetworkKristen Wheatley, Associate Broker
The Maine Real Estate Network
34 Center Street - Auburn ME 04210
mainehomeseller@gmail.com
207-240-2250     www.lamainerealestate.com

Search for Maine Homes For Sale

 how much is my Maine home worth? subscribe Maine's largest and coolest real estate agency Welcome to the L-A Maine area!

connect with Kristen on these other sites

facebook Kristen Wheatley on twitter Kristen Wheatley on Flikr Kristen Wheatley on LinkedIn Kristen Wheatley on YouTube

Copyright © 2013 by Kristen Wheatley

 
This post has been included in Maine Real Estate News
Post is included in group: Maine ActiveRain
Post is included in group: Maine Real Estate
Post is included in group: Voice of Reason
Post is included in group: "Whacked"!!!

5 Comments on Why Are Banks Foreclosing When They Lose Money?

NOV
24
2010
109,312 Points

There's no logic and no reason here either.  I think the definition of insanity is to keep doing something when there's no hope for any change and our market is certainly insane.
9:30am • #1
1,098,330 Points 51 Featured Posts Outside Blog Called Shot Master

Good post Kristen. Luckily Maine is pretty low on the totem pole, 46th for FSSR (Foreclosure, short sale, reposession). Happy Thanksgiving!
9:30am • #4
243,726 Points 26 Featured Posts Attended Rain Camp Called Shot Master

Carol:  You are so right.  I keep hoping they will learn from the error of their ways before all credibility in the banking industry is lost.

Thank you Andrew.  We do have a lot to be thankful for here in Maine.  Happy Thanksgiving to you too!
9:42am • #5
463,762 Points 9 Featured Posts Called Shot Master

hi there Kristen-Just stopped in to wish you Happy Thanksgiving and say thank you for supporting my blogs and I am enjoying getting to know you. Physical limitations keep me from catching everyone of your posts but I enjoy the ones I do catch.

turkey greetings
10:45am • #6
243,726 Points 26 Featured Posts Attended Rain Camp Called Shot Master

Thank you Sharon, and a Happy Thanksgiving to you as well!
11:10am • #7


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 

Find ME real estate agents and Auburn real estate on ActiveRain.