PRESTO! CHANGO! YOU ARE NOW HOMELESS!!!

Reblogger Fernando Herboso - Broker for Maxus Realty Group
Real Estate Broker/Owner with Maxus Realty Group - Broker 301-246-0001 Broker - Realtor - CEO

 

Paula writes this great article that highlights what is needed to solve our current mortgage crisis. . Realtors doing short sales who  protect and care for their clients.

Suddenly our jobs as Realtors have taken another meaning. . .

 

Original content by Paula Hathaway, REALTOR, LBA 30HA0800896

How is it that the Banks are feeling so powerful and secure that they can step in and auction off a person's home without warning? How is it that the banking community has no qualms about selling someones home while they are in the process of loan modification and recovery from the crisis in 2008; and while the homeowner is desperately working on all the paperwork required to convince the bank that they are capable of going forward, capable of being able to pay the mortgage? PRESTO! CHANGO! YOU ARE NOW HOMELESS!!!

BREAKING THE BANK

This outrage is happening everywhere in our country right now---it is repeated endlessly, but most of the time it is happening to a level of homeowner who has no voice--the "Little Guy"...the homeowner who is struggling to carry his home after the "crash" of '08!

HOME IS WHERE THE HEART IS

Does anyone not remember those days?: The days when our President and his Secretary of Treasury stood with the "deer in the headlights" look on their faces? The day we saw them telling the nation that something went badly wrong and they had to put billions of dollars back into the banking system or we would fall into the abyss?.....Remember the fact that an "entity" or "entities" had removed billions of dollars from the money market fund on September 18th, 2008--and broke the dollar value for that fund for the first time in history? THE BANKS LITERALLY HAD NO MONEY!

THE SYMBOL OF THE ALMIGHTY DOLLAR

We would all do well to remind ourselves of those days---Remember them well!... Because if things are really going in the direction that I suspect they are going, and if we really do see hundreds of thousands of "short sales" come on the market in April, as has been speculated, we will need our wits about us. We will need to look long and hard at the way we live; look to see where we can cut back even more than we already have because that is what is coming. First,  the value of the dollar drops to new lows, then inflation cripples the buying power of everyone, fear sets in and confidence, which is at new lows now, will go even lower.....

 

The most outrageous thing about the woman who lost her house because Wells Fargo auctioned it off without her knowing it is that SHE IS NOT ALONE!!!

The best kept secret about the housing crisis is that big banks are doing this all the time, just not to anyone who has a voice---I dare say that this time they didn't realize who they were dealing with and they were caught off guard.... It won't be long now for the effects of the "new" housing crisis to take it's toll: I believe that the first time home buyer---the one who is buying now with trepidation, will literally disappear from the market place---home values will drop precipitously and no one will be able to determine the bottom.

 All this will follow the release of the wave of "short sales" that the government is demanding the banks release into the housing market in April of 2010!

WE MAY ALL BECOME PRISONERS TO THE VALUE OF OUR HOMES--                       PRISONERS OF THE HOUSING CRISIS

AS MORE AND MORE FALL INTO THE CATEGORY OF "UNDERWATER"

Paula I. Hathaway, LBA, Prudential Douglas Elliman

Top Producer, Diamond , Gold and Chairman's Circle Awards

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Jeffrey Smith
Author of 'Realtors Guide To Short Sale Success - Eustis, FL
Short Sale Education

Thanks for the article Fernando. I thank God I'm in a judicial foreclosure state where  the homeowner knows for about three months the exact date of the foreclosure and the foreclosure date is almost always after at least a year of missed payments.

Feb 27, 2010 12:00 AM #1
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301-246-0001 Serving Maryland, DC and Northern VA
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