Who gets involved when it comes to solving the housing crisis? ANSWER: people who do not know how to solve it! I have been doing short sales as long as I can remember, but now it seems like everyone is the expert. Yikes.
So, the government gets involved, but the banks are still not getting it, right. Let’s face it every year we get another proposed solution to a continuing problem, but this solution is only available for the few who qualify. So the truth is that the government cannot force banks to lose money and take short sales and the government programs only apply to 5-10% of the homeowners in distress.
I think the banks should higher real estate agents to process real estate short sales instead of hiring people with no real estate background and possibly not even have a mortgage (Loss mitigation dept).
I also think that agents who practice short sales should have held a license for 2 or more years or work under someone has been doing short sales for 2 or more years. There are some little changes that will make huge differences going forward. By shooting in the dark we are bound to hit something, but turn the light on the situation and we won’t shoot ourselves in the foot.
Thoughts?
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