Real Estate Update
Sit down and read this real estate update very carefully especially if you are a homeowner who is having trouble paying your house payment and those who have been foreclosed on.
Loan Modifications and Foreclosures maybe the “Perfect Storm” where robo signing and deeper flaws may have left banks unable to prove ownership where they would have no right to foreclose or approve loan modifications.
Short Sales seem to be the answer and NOT foreclosures. As a Sacramento Short Sale Specialist, I foresee many more Short Sales over foreclosed homes for sale. Short Sales appear to be a much safer purchase for the Sacramento home buyer in today’s real estate fiasco with the banks.
Watch the video above with Senator Ted Kaufman, chairman of the OVERSIGHT Panel from Delaware. This is some OVERSIGHT! Currently the banks are being examined for mortgage irregularities and the consequences of those “irregularities” on mortgages and foreclosure mitigation.
Banks “MAY” have bypassed legally required steps to foreclose on a home. I don’t think this is MAY, it appears that they actually have bypassed some legally required steps and there may be even more steps they have bypassed besides the “robo” signing. Deeper Flaws may be forthcoming.
Can mortgage banks claim to own the loans they have claimed to own? Who are YOU sending your mortgage payment to and are they the rightful servicer of your mortgage loan? This is a mess!!
In the worst case scenario, foreclosed homeowners maybe able to seek to regain Title to their home and force any new homeowner to move out.
Trillions of dollars and mortgages are at risk.
And to think the BANKS have wanted to get into real estate for years. If this doesn’t PROVE to EVERYONE that banks have no business in handling real estate, I don’t know what does.
Seems like fraud to me by the banks. What say you? Will the banks get bailed out again? How much money will this cost the tax payer? As a Sacramento Realtor® I hope you have found this information helpful. If you have any questions or concerns, please give me a call and let’s talk about what you’ve experienced with the banks. In the meantime, continue to return here on Sacramento Real Estate Voice for the latest real estate update.
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