Comments on: I want to short sell my home! The banks not being fair! http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/ Phoenix real estate | Search Phoenix Homes for sale | Real Estate Blog Sat, 20 Mar 2010 09:20:58 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: JPhttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-65682 JP Fri, 12 Feb 2010 03:41:11 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-65682 So I bought our Arizona home in 2005, due to a job change we moved to Las Vegas in 2007. We rented our home in Arizona but have run into huge problems with recent renters. Since our move to Las Vegas we had moved to Idaho, due to a job transfer. We now own a home in Arizona and Idaho, however our renters have missed payments, caused damage and not paid on time, ever. We are on our third set of renters. While we never intended to short or let our home go we now find ourselves in that position.My point in writing this is that I strongly disagree with the creator of this post. Arizona is a prime example of unscrupulous lending practices. Who signed those bank offers, who appraised the homes, who approved unqualified buyers for loans the bank knew they would shortly not be able to afford? I appreciate your attempt to be honest and noble but you should also look directly back at yourself when you start pointing and placing blame. Who received the bailout? Was it the consumer? Absolutely not, it was the bank and the realty industry who very well knew what they were doing and if they had a brain they knew what the after affect would be as well.It is great to come on here and act disgusted with others actions but the bottom line is that the bank OWES the buyer of these homes, who as a result of an unregulated market, are now extremely upside down on their mortgages.To be 100K-200K upside down because of the banks, appraisers and realtors is NOT the buyers fault.While the blame does not lie completely with the banks, appraisers and realtors, they do share a LARGE portion of the blame. In Arizona you had this huge population that should have never qualified for a mortgage, yet the lending, appraising and realty regimes plowed forward, making decisions that they KNEW would lead to this mortgage meltdown. Only difference is that it is the Bank who got the bailout.I think the consumer deserves theirs.Honestly:) So I bought our Arizona home in 2005, due to a job change we moved to Las Vegas in 2007. We rented our home in Arizona but have run into huge problems with recent renters. Since our move to Las Vegas we had moved to Idaho, due to a job transfer. We now own a home in Arizona and Idaho, however our renters have missed payments, caused damage and not paid on time, ever. We are on our third set of renters. While we never intended to short or let our home go we now find ourselves in that position.

My point in writing this is that I strongly disagree with the creator of this post. Arizona is a prime example of unscrupulous lending practices. Who signed those bank offers, who appraised the homes, who approved unqualified buyers for loans the bank knew they would shortly not be able to afford? I appreciate your attempt to be honest and noble but you should also look directly back at yourself when you start pointing and placing blame. Who received the bailout? Was it the consumer? Absolutely not, it was the bank and the realty industry who very well knew what they were doing and if they had a brain they knew what the after affect would be as well.

It is great to come on here and act disgusted with others actions but the bottom line is that the bank OWES the buyer of these homes, who as a result of an unregulated market, are now extremely upside down on their mortgages.

To be 100K-200K upside down because of the banks, appraisers and realtors is NOT the buyers fault.

While the blame does not lie completely with the banks, appraisers and realtors, they do share a LARGE portion of the blame. In Arizona you had this huge population that should have never qualified for a mortgage, yet the lending, appraising and realty regimes plowed forward, making decisions that they KNEW would lead to this mortgage meltdown. Only difference is that it is the Bank who got the bailout.

I think the consumer deserves theirs.

Honestly:)

]]> By: Mikehttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-64569 Mike Mon, 01 Feb 2010 21:22:52 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-64569 Good reply! I respect your clear thinking. Good reply! I respect your clear thinking.

]]> By: Sherryhttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-64250 Sherry Sat, 30 Jan 2010 03:41:01 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-64250 My husband and I bought our home five years ago. We were approved for $500,000, but knew that was crazy- if something happend to one of us we would never be able to make the payment. So we purchased our home for $227,000. Three years ago, we divorced. I tried the sell the home per the divorce and it did not sell, so I had to refinance to get his name off the title and buy him out. At that time it appraised for $251,500. I tried two years ago to sell, nothing. This year I attempted to sell, and due to all of the people who were crazy and overbought loosing their homes to foreclosure- my home fell in value $50,000 in two years! Now if I want to hire an agent, I would be paying to sell the house! I have to get back to my family- I am 50 miles away from my two older boys, and have just been waiting for the market to right itself to go back home. I am being told that it is going to take five years for the market to recover and get enough to sell my house. Now this is wrong- I did not over spend, and I am being punished. Guess what.... I am short selling my house! I need family to be there to take care of my youngest son while I work, and my older sons need me there for them. I am so mad right now I could just ... well lets say spit! I am loosing my excellent credit rating - due to the banks lending to stupid people! My husband and I bought our home five years ago. We were approved for $500,000, but knew that was crazy- if something happend to one of us we would never be able to make the payment. So we purchased our home for $227,000. Three years ago, we divorced. I tried the sell the home per the divorce and it did not sell, so I had to refinance to get his name off the title and buy him out. At that time it appraised for $251,500. I tried two years ago to sell, nothing. This year I attempted to sell, and due to all of the people who were crazy and overbought loosing their homes to foreclosure- my home fell in value $50,000 in two years! Now if I want to hire an agent, I would be paying to sell the house! I have to get back to my family- I am 50 miles away from my two older boys, and have just been waiting for the market to right itself to go back home. I am being told that it is going to take five years for the market to recover and get enough to sell my house. Now this is wrong- I did not over spend, and I am being punished. Guess what…. I am short selling my house! I need family to be there to take care of my youngest son while I work, and my older sons need me there for them. I am so mad right now I could just … well lets say spit! I am loosing my excellent credit rating – due to the banks lending to stupid people!

]]> By: Jay Thompsonhttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-63961 Jay Thompson Mon, 25 Jan 2010 15:58:27 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-63961 "blah blah" pretty much sums it up KPM. And it stinks. It never ceases to amaze me how short-sighted these lenders can be. Sure, they have a business to run, I understand that. But there are too many people like yourself, in some sort of situation beyond their control BUT WILLING TO WORK IT OUT, and they won't listen. It's mind-boggling.I hope things turn out OK for you. Thanks for stopping by. “blah blah” pretty much sums it up KPM. And it stinks. It never ceases to amaze me how short-sighted these lenders can be. Sure, they have a business to run, I understand that. But there are too many people like yourself, in some sort of situation beyond their control BUT WILLING TO WORK IT OUT, and they won’t listen. It’s mind-boggling.

I hope things turn out OK for you. Thanks for stopping by.

]]> By: Jay Thompsonhttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-63959 Jay Thompson Mon, 25 Jan 2010 15:55:36 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-63959 Sorry to butt in on the comment thread here, but this note is to the short sale helper person that insists on violating <a href="http://www.phoenixrealestateguy.com/about-jay-and-francy/blogcomment-policy" rel="nofollow">our comment policy</a> by advertising their services in the comments.Please stop. If you want to advertise here, contact me and perhaps we can make arrangements. I don't want to sound like a jerk, but I put significant time and resources into this site. It's not a free advertising service, particularly for a company in the same field as I'm in. Sorry to butt in on the comment thread here, but this note is to the short sale helper person that insists on violating our comment policy by advertising their services in the comments.

Please stop. If you want to advertise here, contact me and perhaps we can make arrangements. I don’t want to sound like a jerk, but I put significant time and resources into this site. It’s not a free advertising service, particularly for a company in the same field as I’m in.

]]> By: NAME & LINK REDACTEDhttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-63956 NAME & LINK REDACTED Mon, 25 Jan 2010 15:28:58 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-63956 KPM,Our thoughts and prayers go out to you and we hope that your surgery goes well. If you and your hubby are unable to get a modification, perhaps you would like to short sell your home rather than just walk away. We never charge you an upfront fee (we get paid by the banks) and we will locate an agent for you, gather the documentation from your agent and yourselves and we deal with the headache and heartache of dealing with the bank. If this is something you would like to consider, please contact us as soon as possible so we can attempt to get your house sold via a short sale and avoid foreclosure.WEBSITE REDACTED EMAIL REDACTED <strong> Jay's note</strong>: While I appreciate the desire to help KPM, I really do, it's just not appropriate to advertise your services on my web site. I realize this may sound harsh, but think about it. I've spent literally tens of hundreds of hours developing and writing for this blog and it is the primary factor in getting clients for my business. This is the second time in a week that you've advertised on my site -- which is a direct violation of our <a href="http://www.phoenixrealestateguy.com/about-jay-and-francy/blogcomment-policy" rel="nofollow">comment policy</a>. (scroll up to see your previous comment on this thread).If KPM want's your contact info, I'll gladly provide it to her. But I'd appreciate it if you'd refrain from advertising here. If you really want to advertise here, contact me and maybe we can work out an arrangement. KPM,

Our thoughts and prayers go out to you and we hope that your surgery goes well. If you and your hubby are unable to get a modification, perhaps you would like to short sell your home rather than just walk away. We never charge you an upfront fee (we get paid by the banks) and we will locate an agent for you, gather the documentation from your agent and yourselves and we deal with the headache and heartache of dealing with the bank. If this is something you would like to consider, please contact us as soon as possible so we can attempt to get your house sold via a short sale and avoid foreclosure.

WEBSITE REDACTED
EMAIL REDACTED

Jay’s note: While I appreciate the desire to help KPM, I really do, it’s just not appropriate to advertise your services on my web site. I realize this may sound harsh, but think about it. I’ve spent literally tens of hundreds of hours developing and writing for this blog and it is the primary factor in getting clients for my business. This is the second time in a week that you’ve advertised on my site — which is a direct violation of our comment policy. (scroll up to see your previous comment on this thread).

If KPM want’s your contact info, I’ll gladly provide it to her. But I’d appreciate it if you’d refrain from advertising here. If you really want to advertise here, contact me and maybe we can work out an arrangement.

]]> By: KPMhttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-63895 KPM Sun, 24 Jan 2010 21:09:56 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-63895 Forgot to add, the reason the interest rate is so high, is because hubby is self-employed, even though we had a great payment history with Wells Fargo.We have tried and tried, they even tried to fast talk us at the Mortgage Center, saying "oh you really in all actuality have a lower interest rate, when you consider the points and all"blah blah Forgot to add, the reason the interest rate is so high, is because hubby is self-employed, even though we had a great payment history with Wells Fargo.

We have tried and tried, they even tried to fast talk us at the Mortgage Center, saying “oh you really in all actuality have a lower interest rate, when you consider the points and all”

blah blah

]]> By: KPMhttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-63894 KPM Sun, 24 Jan 2010 21:08:06 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-63894 We bought five years ago, and I ended up having brain surgery. I thought that was a done deal, we have moved from the northwest, and thought it was all done. Now, my doctors say I need another surgery. The banks have refused to work with us to refinance the mortgage. The interest rate is and has been 7.25 percent. We went in with around 50K down payment. We had no intention of walking away, but indeed we will walk away. I have to have family and support for medical reasons, we are struggling with medical/credit card bills and everyone seems to be getting a break on their interest rate but us. We bought five years ago, and I ended up having brain surgery. I thought that was a done deal, we have moved from the northwest, and thought it was all done.
Now, my doctors say I need another surgery. The banks have refused to work with us to refinance the mortgage. The interest rate is and has been 7.25 percent. We went in with around 50K down payment.
We had no intention of walking away, but indeed we will walk away. I have to have family and support for medical reasons, we are struggling with medical/credit card bills and everyone seems to be getting a break on their interest rate but us.

]]> By: What is a Short Sale? — The Phoenix Real Estate Guyhttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-63520 What is a Short Sale? — The Phoenix Real Estate Guy Mon, 18 Jan 2010 17:26:47 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-63520 [...] [...] [...] [...]

]]> By: ---- Short Sellhttp://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/#comment-63518 ---- Short Sell Mon, 18 Jan 2010 15:49:30 +0000 http://www.phoenixrealestateguy.com/i-want-to-short-sell-my-home-the-banks-not-being-fair/2648#comment-63518 Great Article...shows how far we have yet to come out of this. I work for a company called --------- that assists homeowners and realtors NATIONWIDE in avoiding foreclosure and getting their home sold via a short sale. We NEVER charge the seller or a realtor an upfront fee for our services, we only get paid when the transaction closes. Have you been denied a loan modification, are in danger of missing mortgage payments or owe more than your home is worth? DON'T WAIT BE PROACTIVE![links & company name redacted - violation of comment policy: no advertising. I don't advertise for free on your site, please don't on mine.] Great Article…shows how far we have yet to come out of this. I work for a company called ——— that assists homeowners and realtors NATIONWIDE in avoiding foreclosure and getting their home sold via a short sale. We NEVER charge the seller or a realtor an upfront fee for our services, we only get paid when the transaction closes. Have you been denied a loan modification, are in danger of missing mortgage payments or owe more than your home is worth? DON’T WAIT BE PROACTIVE!

[links & company name redacted - violation of comment policy: no advertising. I don't advertise for free on your site, please don't on mine.]

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