Yesterday I toured homes that are currently listed for sale as ” a short sale” or lender owned.
These home are easy to spot as, for the most part, have let their landscaping go. The lender’s policy is if you want to renegotiate you loan you must first be in default. The problem is that after you go in default, the lender seldom will work with you to renegotiate your loan.
Let me go back to the homes I toured: many of them have been vandalized on the inside. Holes in the walls and ceilings, unfinished construction, and appliances removed. Many pools have been drained and thus the plaster will have to be redone. Is this the type of people who live in our country? People who no longer care about the “mess they leave behind”. What happened to pride and honesty? Unfortunately, it is not just one short sale property that I found in that condition, but many. These homes reflect on the values of the neighborhood. Shame on those that have left their homes in such conditions….
The lenders are no better, they take months to review and answer an offer on a short sale. The seller and potential buyer both get disgusted with the delay. Once they take over the property and it becomes bank owned, they are very slow to repair a property and put it back on the market.
Some agents that specialize in listing this type of property have no regard for values, they just want to put up a sign on as many listings as possible and are content to wait for a buyer to come along.
Things will not get better until we, the voters and bank depositors, demand better results from our government, our lenders, our legal system ( yes they are involved) and all who are making a profit at the expense of those that are suffering.
People should know what you stand for. they should also know what you won’t stand for.
Let others know how you feel….