This article hits home for me as a real estate agent and a human being. I can feel the frustration these people are going through, two of them are my clients.
Not only is the foreclosure mess delaying the real estate recovery our economy desperately needs, but its effects will not really be felt for months–WHEN ALL THESE PROPERTIES HIT THE MARKET AT ONCE..
When the big banks decide to wake up and do the right things, 1000’s of these foreclosures could hit the market at the same time and further depress prices,markets and the economy.
Hopefully somewhere, someone will realize that a plan must be put into action.
#1 – get the properties already under contract, reviewed and settled. Commom sense. Review the documents and get them sold. We are talking about peoples lives here!
2- put together a plan to get the rest on the properties on the market, and increase the incentives to get people into these properties.
3- THEN go back and find the parties responsible ( i blame the banks and the attorneys ) and MAKE THEM PAY.
I know its easier said than done, but the level of frustration increases everytime I read an article like this
Click link below to read article by David Henry of Bloomberg.com
Please , I welcome your comments…