What does $10 Tillion, $93 Billion, 130 Million, 1.2 Million Have In Common?

Real Estate Agent with Keller Williams Realty 0590712

I am very angry at what the few has done to the many. The criminally accumulated obscene wealth by those who are in a fiduciary position and who we entrust to represent us has gone unpunished. These very few should be have been held to a much higher standard instead of the lower standard that is now part of the American way of life as we continue to allow them to steal money from everyone of us. Every time I list a short sale home it makes me even angrier. Why? Because I see the results of what these very few have done to so many and the horrific damage they have brought on us. They are directly responsible for the housing market to collapse and to subsequently roll over onto it's back as they continue to keep their feet on the throat of recovery. There has been no significant improvements or change to streamline the process in the four years since the bubble burst. I have over 250 short sale approvals, but closed only about a 100. These homes didn't fail to close because they were sold at the foreclosure sale, but due to the absurd time it still takes to get a short sale approved. My record is two years and eight buyers. We experience incompetence and disorganization every step of the way, everyday as we attempt to navigate the short sale maze. So many companies have their wrench in the gearworks fouling the process, which includes a few MI companies, a dozen major services and hundreds of investors all with their own unique set of guidelines, policies and procedures. Did you know it cost $77,935 to foreclose on a home verses to short sell it? A sane approach will result in a savings of $93 billion this year, but it won't happen as lenders chose to foreclose on 1.2 million homes when they could have been short sold. Why not save the money and just let Realtors do their jobs and short sale these homes? Did you know since the bubble burst in August 2006, 130 million American families have lost $10 trillion in their home's equity? That's about $55,000 per family! Want to learn more? Go to: www.AskMeAboutAShortSale.com (click on Foreclosure Alternatives and then click Foreclosure Wars White Paper in the upper left of the page).

Comments (2)

Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Edward... I have a question.  Exactly how much is $10 Tillion ?  Your adoring public wants to know.

Jul 16, 2011 05:50 PM
Edward Goldfarb 450 Short Sale Approvals - 1750 Sales
Keller Williams Realty - Fort Lauderdale, FL

10,000,000,000. 10,000 million or 1.0 X 10 to the 10th power, if I recall my scienctifi notation correctly :).  130 million homes in the U.S. have a loss of equity of over $55,000 each.  Two documentaries to see, "Too Big To Fail" and "Inside Job".   Also the following link should take you to my "Foreclosure Wars White Paper".  My son lives in San Antonio and from my understanding Texas has faired pretty well and doesn't have the massive amount of distress property as CA, FL, AZ and NV.  Florida is a mess and I am seeing good people lose everything.  Took the Water Taxi a month ago and past by a $15 million mansion with a $5 million yacht docked in the back that was owned by, David Stern, the largest foreclosure attorney in the U.S.  All I could think of was, the home that foreclosures built.  I wondered home many families were put out on the street this man could built such an incredible home.  One of the criminals involved in creating the housing bubble made $485,000,000 on year in salary and bonus'.  I will look up his name when I get a chance: http://edwardgoldfarbrealestateNV.blueroof360.com/page/370195/Foreclosure/ForeclosureWarsWhitePaper

Jul 17, 2011 02:39 AM