"Oooops!" The banks screwed up yet again!
Shortly after my last posting asking the question, "What is wrong with people?" the news broke about the halting of foreclosure evictions. This coming one week after a condo I had listed supposedly sold at courthouse auction on the foreclosure block.
All I can say is "IMAGINE THAT!" As a real estate professional myself I have gone round and round with several lenders in trying to get them to work with their/my clients and avoid foreclosure at all costs. This is a very tiring process and will stretch the nerves to new lengths - Redundant requests for the same documentation over and over - Talking to different representatives each time you have to call - Answering the same questions repeatedly - Explaining the situation until you mutter it in your sleep at night! CRAZY!!!!!
When dealing with foreclosures and short sales alike it has been a never ending game of who's on first and who's on second. I knew this was coming but didn't think it would be this soon.
According to the Tennessee Association of Realtors' latest publication, "Major lenders are conducting reviews after learning that employees rubber-stamped foreclosures without properly assessing the documentation. Thousands of foreclosures and pending home sales are now in limbo, and revelations of sloppy paperwork are prompting law enforcement officials and homeowners to challenge lenders' rightful ownership of the notes underlying foreclosed homes." TAR digest, Oct. 11,2010.
Where will this leave the recent happy buyers of foreclosures? Will there be any reconciliation for the foreclosed homeowners who watched their property sell on the court house steps? Do they realize how this will effect the already crappy market we have been in for many months? Who is the genius that tries to convince all of us happy Americans that the recession is over?
SOMEONE NEEDS TO GET THEIR "CRAP" TOGETHER AND STOP SCREWING WITH PEOPLE'S LIVES!
All I can say is "IMAGINE THAT!" As a real estate professional myself I have gone round and round with several lenders in trying to get them to work with their/my clients and avoid foreclosure at all costs. This is a very tiring process and will stretch the nerves to new lengths - Redundant requests for the same documentation over and over - Talking to different representatives each time you have to call - Answering the same questions repeatedly - Explaining the situation until you mutter it in your sleep at night! CRAZY!!!!!
When dealing with foreclosures and short sales alike it has been a never ending game of who's on first and who's on second. I knew this was coming but didn't think it would be this soon.
According to the Tennessee Association of Realtors' latest publication, "Major lenders are conducting reviews after learning that employees rubber-stamped foreclosures without properly assessing the documentation. Thousands of foreclosures and pending home sales are now in limbo, and revelations of sloppy paperwork are prompting law enforcement officials and homeowners to challenge lenders' rightful ownership of the notes underlying foreclosed homes." TAR digest, Oct. 11,2010.
Where will this leave the recent happy buyers of foreclosures? Will there be any reconciliation for the foreclosed homeowners who watched their property sell on the court house steps? Do they realize how this will effect the already crappy market we have been in for many months? Who is the genius that tries to convince all of us happy Americans that the recession is over?
SOMEONE NEEDS TO GET THEIR "CRAP" TOGETHER AND STOP SCREWING WITH PEOPLE'S LIVES!
