I attended a seminar on Short sales a few days back sponsored by a local Title company and our local board. The speakers were some folks from the Title company, a bank representative, and an attorney. It was a good event for the most part, much of which I already had some experience with but it was good to be refreshed. it seams in our market more and more properties are being sold this way so it's good to be well versed in the process.

One statement I couldn't stop thinking about was when the attorney said " in these times everyone has to get a haircut" .  At first I understood him completely but the more I thought of it the more I realized I haven't seen an attornet take a haircut in any transaction I have been involved in.

One of the bigger insults to the whole issue is corporate bonuses for Mortgage company execs. There was one from Countrywide who is being paid 2.5 million to stay at his job just until March 15.  But the mother of them all is Chief executive Anthony Mozillo also of Countrywide who will walk with over 66 million for running a company into the ground.

So much for everyone getting a haircut.