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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (15713)	2/22/2009 4:20:15 PM
From: bmillermn	1 Recommendation Read Replies (1) \| Respond to of 50264

Sorry about your job loss. Good luck.

To: loantech who wrote (15713)	2/22/2009 8:34:28 PM
From: Proud Deplorable	Respond to of 50264

Can't say I disagree Tom. Though I'm up here in Canada I've spoken with enough realtors in my years to come to despise the whole lot. Very few of them ever came out for lower prices even though they win with high OR low prices. Yes the banks here went crazy too, trying to get people to borrow more than they needed but I believe that the bankers just took advantage of criminal hyping by the building industry, at least here in BC they did. The media here is controlled by the real estate industry, not the banks. It's quite easy for a borrower to say no to a banker who gets out of line as most of them are not professional shills and con artists like the RE marketing firms who wouldn't know how to tell the truth if it were their last breath and God coaxed them to just try a little bit. For years and years we never saw even one article here suggesting that house prices were getting too high. So who is supposed to know more about this industry, the banks or the industry? I say the industry and they should share the majority of the shame.

To: loantech who wrote (15713)	2/23/2009 8:28:00 PM
From: Hoa Hao	Read Replies (1) \| Respond to of 50264

Interesting. I thought that the mortgage company/bank chooses the appraiser. Course, as a LO, no RE agent will use You if you kill their deals and use a tough appraiser. That means while he was inflating your house value, you were making debt go away and income magically appear. LOL <:-) The reality is, is that one hand washes the other. The buyers, sellers, RE agents, appraisers, settlement lawyers, bankers, et al are all in on it. Oh, I left out the biggest culprit who should be named, Government. I do have one suggestion I gave to Barry Ritholtz on his blog. Regulate the apprasiers at either the state or Fed level and let the BUYER choose one from a list who is expert in a given zip code or neighborhood. The buyer pays for these anyway, for the most part, but the whole system is so out of the buyer's control, that it's a travesty that he has to pay for it. At least that way, the RE agent has to meet the apprasier with not just comps, but a wad of cash. LOL