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In mortgage market, "walkaway" homeowners may be a urban myth

True or false: More and more homeowners who owe more than their house is worth are giving their house keys back to the bank? While anecdotal evidence suggests that mailing the keys back to the bank is occurring, there doesn't appear to be any evidence that the practice has become widespread.

Posted by Brad Butler on 05/21/2008 09:03 PM

Comments (2)

newport beach real estate

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2 Comments on In mortgage market, "walkaway" homeowners may be a urban myth

I have a very motivated buyer who is looking to purchase bulk reo's ranging from 400million to 5 billion. My client is easy to work with, however needs proof that you actually have the product before giving a LOI. I am looking to establish a working relationship that way we can do business on more than one occasion. Please email me at josh@nwlsusa.com if you are able to produce proof of product. I am tired of jumping through hoops when in the end the seller doesn't have any product. I am on a deadline because my client is trying to buy up as much as possible so he can pay less in taxes. Please a friendly reminder do not ask for LOI or MFA before proving you have actual product to sell.

Joshua Loeb

J. Loeb Inc

818-428-1059

06/04/2008 08:26 PM

by Joshua Loeb

I don't think these peopel who walk away--bother to return any keys!

06/05/2008 01:55 AM

by Aida Pinto Real Estate and Loan Consultant (ReoLicensedSpecialist.com)

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