Bryan Robertson posted Why are banks not held accountable for delaying short sales? It is featured, tons of «I agree» comments, everything in classic AR style. Of course how the idea so darn wrong could be featured is beyond me, but I digress...
OK, we are tired that it takes banks more time that we would like to in order to forgive often hundreds of thousands of dollars. And we want to hold the banks accountable. Just listen to what we are saying... Don't you hear what I hear? (it is buzzing in my ears that this is BS)
So, let's imagine that a few years ago I went to the bank and got a loan. In exchange I promised to pay it back. I agreed that if I fail, they can take the very property they financed. I also signed that I knew that they would go after me for all unpaid money, and that they had the right to make me pay for their legal fees and so on and so forth. Of course, I did not have a problem signing it.
I do not remember signing anything that would state that when I would not want/be able to pay back, they would have to consider giving me a break. There is nothing that I can hold them accountable if I do not pay. But there are pages and pages of how they can and will hold me accountable if I do not pay. Not fair? Do not take their money, take your uncle's money...
Now, for some reason I stopped paying. And now, I am asking the bank to allow me to pay them less than I owe. Read carefully. I ASK them to accept less than I owe.
And now the twist to the story. I ask them, but if they do not do it fast enough, I want to hold them accountable.
And why is that they can't hold me accountable? How? By not responding to my request, or denying it plain and simple.
Wasn't it me who promised to pay? Then shouldn't it be me to be held accountable?
When did we transition from understanding simple things to twisting the arms if we find it personally inconvenient?
There is a big difference between asking and forcing. Since when real estate professionals lost the ability to tell one from the other?
As real estate licensees, we’re involved in Short Sales, and we are making money doing it. Is it a cry that we want to make it faster, and that's why we are ready to hold accountable whoever is the way to money?
Is there such thing as reverse logic? When you take the desired end result and then build the justification for it?
There is an old-old Russian fable, and there a wolf is telling sheep begging to let her go that the sheep is guilty because the wolf is hungry. I got it, I got it, I got it...
P.S. Please, spare me from all these horror stories about banks. Because it is not about banks. It is about the borrowers, and they are the ones who should be held accountable. And do not forget that they have agreed to that before taking money. No surprises here.
Doesn't matter who gave them the money, and whether banks got the money from the feds, and all that stuff. It is about personal responsibility. Not returning money because you do not like banks, or because they got money from the Feds, is lame excuse. And silly...