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Old 08-04-2012, 05:20 PM
 
6 posts, read 14,978 times
Reputation: 11

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Can anyone confirm

I heard that now that the mortgage "robo signing" investigation is complete, all those banks with homes that were behind on payments and were hoping to sell VIA a short sale will start the foreclosure process again. News report on Yahoo said somewhere in the neighborhood of 10 million homes nationwide could be affected.
I've been looking for a home for months now and have shyed away from the SS's out there. Seems the realtors are just throwing a price on the homes without the banks approval. You make a full price offer, wait months for an answer and the bank rejects the offer.

Last edited by Endless Summer; 08-04-2012 at 05:28 PM..
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Old 08-05-2012, 08:00 AM
 
Location: Port Charlotte, FL
3,979 posts, read 9,898,957 times
Reputation: 1923
Here is an article from 8/3/12 - Press Release - Bank Settlement Brings a Spike in Foreclosure Activity

It looks like there should be an increase in foreclosures, however, there are still options for underwater homeowners to look into before letting the home go to foreclosure- short sales, refinancing, mortgage modification, principal reduction, and bankruptcy. Some people will qualify, others will not.
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Old 08-05-2012, 09:31 AM
 
6 posts, read 14,978 times
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TamRE
You are the first Realtor that has admitted things aren't as rosie as the papers report.

People tell me that the surplus houses are drying up but I see a lot of homes 'removed' from the MLS (not sold) and if you look at some of the Gov. and Bank sites, you'll notice a lot of "Back on the Market" listings.
For some reason, deals are falling through.

Thanks for being honest.
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Old 08-05-2012, 05:57 PM
 
Location: Sunny FLA
688 posts, read 1,670,349 times
Reputation: 308
TamRE knows her sh*t. I've never dealt with her but she has a lot to offer! I read every post of hers.
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Old 08-06-2012, 04:55 AM
 
Location: Port Charlotte, FL - Dallas, PA
4,396 posts, read 4,065,194 times
Reputation: 4230
Quote:
Originally Posted by daFrogMan View Post
TamRE knows her sh*t. I've never dealt with her but she has a lot to offer! I read every post of hers.
x 2
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