Again, there is enough blame to go around and I don’t care
about pointing fingers. There is a
blatant lack of accountability at all levels in the system — from the
homeowners, the agents, the lenders, the investors, the bond ratings, etc.
From what I can see, it looks like there are only a small
number of homeowners actually helped by going through a successful short-sale. If it cannot be streamlined or
optimized, I would recommend remove the short-sale option entirely — have the
banks/lenders go directly into foreclosure as quickly as possible.
This will make sure the lender is losing the minimum
possible by not taking months and years to go through a prolonged
short-sale. Buyers will actually
be able to buy the home as it comes back on the market as bank-owned instead of
waiting for something that may never be approved. And finally, the option for people to “game the system” will
be removed because there are no ambiguities or intermediate steps.
I want to sell property and help people reach their
goals. I’m just frustrated by the
system. Thanks for listening.