Banks owning our homes!!!!.

Real Estate Sales Representative with RE/MAX Metro Real Estate Services

Every day I get up and go to work I have to face with the reality.

How can we let this happen?

Banks owning our homes!!!!.

 "Ye who have the gold make the rules" or how do that goes?

We cannot longer feel secure that we will have a job tomorrow, some like us are making good that we can't really see it.

We are been shut down from every angle by our government who is giving the Banks more power and less regulations.

Now Banks by asking homeowners to call when listing their home on a short sale (Pre-foreclosure), as Bank Of America did to some of my clients, have the opportunity to probe the homeowners and ask them if they are interested in given up their home.

This individual at the bank was short of asking my client for a DEE-IN-LIEU.

We know that this will carry greater risk and homeowners are expose if they agree to take this path without getting legal advice. If the buyers is not advice by the bank to seek for legal consultation he (the homeowner) will probably commit himself to a voluntary negotiation that he will not understand living himself open for more damages'.

We should not let our clients expose to this abuse. This will be like having our home been broken in and hiring the thief to come over to install our home alarm.

My advice is to do a 3 way calling; by this time you should have an authorization by the homeowner in the Banks' system, get him ready in what to expect from the bank when making this call, have his finances and gross income ready.

When they know that I am in listening they have not ask my client if he is interested in givin up his or her home.

 Read more about Deed in lieu of foreclosure on Wikipedia

Comments (4)

Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

I read somewhere recently that Deutsche Bank is now the largest property owner in the US.  Not sure if that is a true statistic or not, I am going to have to google it up and see if i can find the facts on that.

Oct 19, 2009 06:20 PM
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Robber barrons with the aid of the Obama administration are licking their chops.  I know of a lot of investment money sitting on the sidelines waiting to buy up properties at 20c on the dollar.


Oct 19, 2009 07:03 PM
Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Deed in Lieu is another way for them to have the upper hand.. . .

Oct 19, 2009 10:32 PM
Lupe Medina & Oscar Matamoros
RE/MAX Metro Real Estate Services - Anaheim, CA

Robert W. May

From as late as 2001 to at least 2007, the Bank engaged in covert espionage on its critics. In May 2009 Deutsche Bank informed the public that the executive management learned about possible violations which occurred in past years.


Oct 23, 2009 05:06 PM