Hell, if depreciation were the sole criteria for jumping ship, then a very high percentage of new car buyers (like 100% of em) would bail out too.
If you can afford the payment then quit your bitchin and do it!
murf2222[/quote]
This retarded horseshit is what every negotiator at Wamu said right before the bank collapsed. It is also what everybody at what is left of HSBC still says. I know because I spent (and spend) a lot of time on the phone with them.
The common thread:
Unrealistic expectations of irrational borrower morality is what led these banks to make poor risk management decisions and poorer attempts at reform.
The seller’s best option is to pursue a short. The bank’s best financial bet is to approve the short. However, an arrogant or cavalier letter pisses off a negotiator and he denies it. Considering how many he has on his desk, it is unlikely anything bad will ever happen to him (the negotiator) as a result of the denial. The negotiator is satisfied,the bank loses an additional $40k they did not need to lose and all is right with the world. This is what Alan Greenspan described in his “basic misunderstanding of how the world works” (his words). This is also the basic irony of capitalism. Action based on individual self interest does not equate to group benefit or even self benefit.
The best way out is just to re-apply for the short.
Get a different person on the line, call the executive offices, ask for a supervisor, or just start again. If your agent won’t do this, then fire him (or her) and get a new one. We are paid for performance and you owe them nothing if they don’t perform.
Good luck dude.
PS:
Also, try not to sound like a tool when/if you talk with the bank. Again, good luck to you sir.
