Here We Go Again! Big Banks Being Hypocritical! Seeing The Trend?

By
Real Estate Agent with Broker, Dills Real Estate

Had to post this today as I ran across a good post on the Short Sales Superstars site that updates a theme of mine that points out how HYPOCRITICAL our leading financial institutions are or can be.

My specific topic - that I've done previous posts on ActiveRain about - is that banks constantly point out the "moral hazard issue" or the fact that homeowners would be immoral if they decided that it would be best for their personal and financial interests if they walked away from mortgages and properties that were deemed to be too far upside down.  And then we find numerous instances where they do the exact opposite - they walk away or give back properties in their best financial interests that they deem too far upside down!  And morality doesn't seem to be an issue here.  Only that banks are acting in their shareholders' best interests.

Well, I say what is good for the goose is good for the gander.  And...THERE'S NOTHING IMMORAL ABOUT HOMEOWNERS DOING WHAT IS IN THE BEST PERSONAL AND FINANCIAL INTERESTS OF THEM AND THEIR FAMILIES! NOTHING AT ALL!

Lastly, here's the post (written by a short sale agent - Jennifer Escobar of Glendale California) that led to this little "what's the moral of the story" blast!   Have a good Sunday! ;-) 

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Comments (4)

Keisha Hosea- KASIHomes.com
KASI Homes - Chino Hills, CA
Real Estate Solutions For Real People

I loved this! It's interesting that it's viewed as a sound financial decision when the "Big Boys" do it but viewed as immoral when  the "little guy" does it. Thanks for sharing!

May 22, 2011 03:46 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Many years ago when our boys came back from the war, they were buying homes. The last thing anyone would do was to default on a loan and for years that became the norm in America. Well wall street picked up on it and started selling these loans openly chanting that Americans would never default making these safe investments. That thinking held all the way until this fiasco....Now, self-preservation rules the day....thank you Kent

May 22, 2011 03:46 AM
James Loftis
RealEstate911.com - West Palm Beach, FL
RealEstate911.com

Hello Kent,

 Very informatiove post, thanks for sharing.

May 22, 2011 06:19 AM
Kent Dills
Broker, Dills Real Estate - Bellingham, WA
Real Estate 817-495-8028, Bellingham, Washington

Keisha, you caught the irony of the situation exactly!  Sharp lady!  ;-)

Richie, I think you hit the nail right on the head!  Thanks for commenting.

James, thanks for the complement.  Appreciate you noticing the post!  

May 22, 2011 07:47 AM