By Todd Clark (Broker/Sales Coach)
503-524-9494
This morning I read a
report that the President says the
problem with the housing industry is short sales and he wants to fix
it. I
thought GREAT, ABOUT TIME! But then I read the article and quickly I
realized
that our President has no clue about what is going on with the housing
industry. As with most politicians he thinks if we throw money at a
problem, he
thinks it will go away.
You see, the President
says the problem with short sales is
that the sellers don’t want to move out and that he is
willing to offer
$1500
to home owners to move out, so they can have money to move. WHAT? Since
when do
we have a problem with sellers not wanting to move out? Does he not
realize what
a short sale is? A short sale is where a seller puts his home on the
market
because he knows he is in trouble and wants to move. Now, I think this
is going
to be a huge chance for fraud!
You see, the real problem
with short sales is the banks are
taking so long to respond that the home ends up going in to foreclosure
and
that is when the sellers are refusing to move out. They tried to do a
loan
modification, they tried the short sale… the banks are the problem, not
the
sellers.
I think we are going to
see a lot of sellers take advantage of your
$1500
program and actually create the problem of sellers not moving out until
they
get their $1500 a real thing. Mr. President, if you want
to fix the
problem,
make it so the banks have to respond to short sale offers submitted to
them
within 30 days of being submitted. (The reason I say 30 days, is so
that gives
them time to do a BPO or an appraisal) If they don’t respond within the
30
days, they have to give a $500 a day credit to the home owner that will
go
toward back payments and principle.
I promise, if you do this,
as soon as the banks realize that
they are getting people out of default with their delays, the short
sale
problem will go away.
Todd Clark - Broker / Sales Coach
All Brokers Real Estate
Phone: (503)524-9494
Fax: (503)622-8739
Beaverton Oregon
Homes for Sale,
Beaverton OR homes for sale, homes for sale in zip code, 97006, 97007,
97008, 97005, 97223, 97224, 97124, 97123, Beaverton Oregon Realtor,
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Search, 1st time home buying expert, short sale expert, avoiding
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©2010
Todd
Clark - Mr. President, stop throwing money at the housing industry, that isn’t the problem
