The World of Short Sales

I talked with an agent friend the other day who has a short sale in process. His sellers haven’t made a payment in almost three years, yet feel the bank is screwing them by insisting they either short sale the property or the bank will foreclose.

They refinanced the house seven years ago withdrawing in excess of $100,000 in equity. Yes things have not gone well for them in the last three years (job loss, reduction in pay), but they have made no payments! They did manage to buy a new car. They applied for the loan, signed all of the documents and took the cash out — so how is the bank screwing them??

I fear for our country! We have become a society of entitlement seekers and permanent victims. We make bad decisions and its someone else’s fault. We file a law suit when the bank announces that it wants to charge us for a service we use. Yet we go on the 10 o’clock news as a victim when the bank seeks to enforce the contract we signed.

Any ideas how we can turn this mess around?

13630 Llagas Rd, San Martin, CA

Here is a neat country property in San Martin. Close to the city but room for horses –  gardens – big family. Second APN (1.25 acres) may be buildable. This is a short sale, but the price is right! It just came back on the market when the buyers failed to get a loan approved. See it now before it is gone.

http://static.animoto.com/swf/w.swf?w=swf/vp1&e=1303585098&f=oh9tQEely8cIu1E0l7wzTg&d=34&m=b&r=240p&volume=100&start_res=240p&i=m&options=

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Logic 101

This is from a ggod friend of mine who likely thinks tooo much!

“If you consider that there has been an average of 160,000 troops in the Iraq Theatre of operations during the past 22 months, and a total of 2,112 deaths, that gives a firearm death rate of 60 per 100,000 soldiers.

The firearm death rate in Washington, DC is 80.6 per 100,000 for the same period.
That means you are about 25% more likely to be shot and killed in the U.S. capital, which has some of the strictest gun control laws in the U.S., than you are in Iraq.”

Conclusion: The U.S. should pull out of Washington.”

I’m just saying. . .