How Banks Are Dealing With Short Sales

We are trying to help sellers caught in the recession and the declining values of their neighborhoods, who, for one reason or another are trying to avoid foreclosure. Here is what we have found:

Banks, with a few exceptions, are NOT dealing with short sales either with their best end results, with the neighborhood values best end results, or with the publics best end results in mind.

Banks on the whole employ minimum untrained, unempowered people to negotiate the short sales. The have a set of rules and unless you exactly fit within those rules, your house is very likely to end up in foreclosure.

It's much the same as the loan modification process. The banks don't want to take your loan to short sale, but they don't want to modify your loan either. We think that the longer the banks can prolong their losses, the better they think they will be. If they can look good now, they won't look so bad when the market rebounds.

It's a dishonest way of doing business.  It is not what the government wants and what they have been given stumulous money for, and you the public, are the people taking the hit.

In our experience, the best mortgage holder in this process without a doubt is GMAC. The worst by far, is US Bank.

Stay tuned, we'll add to this in the next few days with some of the worst deals we have had! You won't want to buy these banks stocks EVER!