Do you think they have any clue??

[Andrew Meegan]

The whole process that the servicers put a realtor, mortgage agent and attorneys through to get a short sale done is next to impossible. I have heard more then a few times, a few times from the servcer themselves, that they dont care because they are a billion dollar company. Ever heard of "death by paper cuts?"

A deal I presented in the past. Mortgge was $575,000, offer and BPO were $405,000, they took a pass. 5 amonths later, after the foreclosure, property is listed for $275,000. They were all too willing to say no, just to jump past me, and list it for $130,000 less? I don't get it.

I truely believe we are just still getting under way on this mess. There are far too many homes still in process right now which have not hit the market yet, and many more which still have not even started down the path towards defaulting, which surely will.