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Feb 20 2012

What can the banks do to speed up short sales? 7 months later nothing ?

Posted by Usual in Short Sales, tags: , , , , , ,

It is rediculus to waite 7 months and get shined on.Wake up Bankers and get off your dime.

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This entry was posted on Monday, February 20th, 2012 at 8:55 pm and is filed under Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “What can the banks do to speed up short sales? 7 months later nothing ?”
  1. David Z says:
    February 20, 2012 at 9:49 pm

    i am a buyer waiting 5 1/2 months.

    Can you imagine how many years it is going to take to resolve these troubled loans if each one takes 6 months or more to resolve?

  2. Ed Atun says:
    February 20, 2012 at 10:37 pm

    They could hire more staff. They won’t do that because they expect the crisis to pass soon; and they don’t want to fire all the people they hired.

    The newspaper had an interesting explanation of the delays. Most loans are paid to a bank but the actual loan is owned by an “investor”. Each month the bank gets $30 to process the payment and forward it to the investor. During a short sale, that same bank can charge $300. Ten times more money. You can see why the bank would not be in a hurry to close the sale.

  3. Doctor Deth says:
    February 20, 2012 at 11:14 pm

    nothing – banks are not going to be in a hurry to lose money

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