You may have noticed a halt in postings these last couple of weeks. I apologize. But I’m really frustrated and fed up with real estate in America right now. And to Bank of America I say a loud “Boo” to you.
Seems these freaking banks are bent on destroying realtors’ lively hoods. They certainly helped to create the financing mess we found/find ourselves in. Then they couldn’t find their asses with both hands during the rise of short sales. And now they have decided that all the foreclosures they have done/have been doing may not (or may have. Who knows? We’re just lawyers.) have been legally sound. Who is running these banks? Anyone anywhere have a clue?
People and realtors and businessmen from all points across America disagreed with me when I yelled “Let’em fail!” I was told the economy couldn’t handle it. Main Street would be devastated along with Wall Street.
Well, you know what? Who keeps taking it in the shorts?
I don’t get to draw a six figure salary while screwing up and then get government backed loans and guarantees if I mess something up. These cats do?
Who is going to compensate me for the closings I have that have now been halted? I’ve done the work. I’ve identified the properties. I brought a ready, willing and able buyer. I read through and explained their 34 pages of ridiculous addenda.
And what about the buyers? They are willing to redo these houses and get the inventory off the public-backed payroll…so to speak. Now these homes will languish causing banks asset sheets to look bleak requiring a conservation of capital which will choke lending which will require taxpayers to come to the rescue again which… Get it?
During the real estate boom banks were fighting states to get in to the real estate business. Is their goal to bankrupt the established real estate structure? (Maybe I’m a bit overboard there. Maybe not.)
First financing caused me to have to move away from multi-family homes. So I adjusted and started working with foreclosures. This time, I am not sure how much I care to adjust and come up with a new strategy. I have options. I’m mad. And I probably shouldn’t even be publishing this.
But many of you know me from years of reading. If you have an account at a large bank, I’m begging you to close it and move it to a community bank that was more fiscally responsible. Let’s all just say “screw you” to these people where it matters.