-
Quick Tour
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.- Explore the world's largest storehouse of real estate knowledge
- Access free training on ActiveRain University
- Share the experience of life in the real estate industry
- Grow your business through real estate blogging
- Blogs
-
Resources
Product Reviews Curious as to what others in your profession think about a certain product or tool? AR's community takes the time to leave honest and transparent reviews of their experiences so you can be a bit wiser about your purchase.
- Broken down by categories and subcategories for easy finds
- Get an unfiltered look at what real users are saying
- Leave a review yourself for others to benefit from
- Add new products as you use them and gain points for doing so
|
;)
;)
;)
Find CA real estate agents and Burlingame real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2013 ActiveRain Corp. All Rights Reserved
7 Comments on Why NAR shouldn’t Ban Short sales
Artur: Anyone thinking that "short sales" should be banned... just does not know what they are talking about. Altough short sales can be a real pain to work with... they area great tool for Realtors who want to jump in and specialize in them, and an even greater way for home sellers in over their heads to save whatever part of their equity and their credit they can. Don't worry... I could not think of any circumstances where NAR would ban short sales.
If sellers can not afford and want to sell, they should be allowed to do it.
Karen, thanks for your comment. I didn't think NAR is going to do that. However, something should be done to improve the process. I did and am doing quite a few of them and I ceratinly understand the frustration. Unfortunately, the way it is done now it is ant-thesis of "logic". I am going to share some ideas in the near future.
Gita, you are right. banks will loose money, but they will loose much more if they foreclose.
I don't think the NRA,, er, NAR will ban it. Evern though there may be a bunch of complaining going on, do you know what the stink would be if they did?!? Some folk are making some good money off of this.
Matthew, yes it definitely is a good way to make some money. I just hope that lenders will make it easier. They do need it! I guess they figured out that if they loose more money - they will get bailed out by feds!
I'm not sure the lenders want to make the process better. All they need is to advertise that short-sales are now easy. The damage might be worse than for them just to take their knocks with foreclosures (not all short-sales end up this way, though). Anyway, this is all in my humble opinion.
Brandon, I am sure that's part of the problem. It might be easier for lenders to have huge write offs on foreclosures in hope of getting a government bailout down the road. I think that they will come to the realization (sooner or later) that feds will not be able to bailout all failing lenders and something else has to be done. Increasing the success rate of loss mitigation (including short sales) is a logical way to lower the losses due to foreclosures. For now, however, logic is not a preferred tool of lenders. Thanks for yoyr comment, Brandon.