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Foreclosures Halted in Texas?

By
Real Estate Broker/Owner with Homes By Lainie Real Estate Group 0488429

I sit here to write this and I am a bit perplexed by what all seems to be going on in our country.  It seems like it's one thing after another!  I really thought that after the last couple of years we had all buckled down, learned our lesson about haphazard ways and were truly going to start flying right!  Now we have big companies that we are entrusting our homes, our credit - basically our whole lives to - who because it's the easiest way - have taken to "robosigning" documents to foreclose on homes.  What about the single mother who is actually paying her payments but somehow there was a glitch in the system?  Robosign away?  Take her home, ruin her credit?  Yeah - that sounds about right.  If we were to go out and commit a crime we would at least have the right to a fair trial...but not in this case. 

And just when I thought the real estate market was on that upward swing - this is one more thing to make the American public sit back and wait for the craziness to be over. 

I'll admit, I'm a little scared of what's to come - how will this affect all of us?  No way of telling now.

What is your opinion on this?  A few articles:

Man starves himself to protest foreclosure halt in Austin, Texas

Attorney General of Texas issues foreclosure freeze during probe

Comments (1)

Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Now this counts as excellent news for those of us doing short sales!  Not so sure how this will be received by the agents who specialize in property management and lending money to the banks...I mean in listing and selling REOs!

Oct 10, 2010 03:29 AM