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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Pogeu Mahone who wrote (122355)5/12/2008 8:15:59 AM
From: saveslivesbydayRead Replies (1) | Respond to of 306849
 
"Option One sold this mortgage in a bundle of loans to investors, who have final say about a sale."

Fascinating. Is it even possible to find out who the investors are, contact them, and get their "approval" for a short sale?

Clearly the deed is in someone's name, and it's not likely a hedge fund in Finland



To: Pogeu Mahone who wrote (122355)5/12/2008 8:22:40 AM
From: Amelia CarharttRead Replies (1) | Respond to of 306849
 
I think this is the key remark "But the loan companies are proving ill-equipped to handle record foreclosures".

The airheads know how to make loans that require no thought or analysis. Foreclosures are a whole new ball of wax.

The popular phrase "All you need to be able to do is fog a mirror to get a loan" is equally true of the lenders making the loans, especially loan brokers.


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