sdr a few weeks back I posted about a lead I had a few months ago for a short sale listing. I went to the appt and met with the guy but never heard back. I called the guy several weeks ago to see how things went and he told me he had an attorney work with the lender and indeed he also claimed to have gotten a loan mod down to the current appraised value. By my numbers that would have had to been about 170k in reduction. I also noted no recording on the realist tax roll. Whether the guy was BSing me or not I do not know but I do know he has not listed the home for sale, nor is he in default.
By the same token we just picked up another place at auction and that HO had ponied up 3K to Pacific Law Centers to mod the loan and well… you see how that turned out.
Like everything else it depends on the quality of the attorney I guess.
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Analyst you wrote alot of what we already know and have posted. Of course all bets are off, until the govt returns to fiscal discipline and no it is not an indefinite shell game. Come on though, do you honestly see our govt doing that on its own? Now we may be forced to face the music by our creditors but left to our own devices, no I don’t see it getting done. I see plenty of bailout gas left in the tank and I am fairly confident we will see more “stimulus” on the heels of the currently expiring stimulus package.
After all we still have a health care package, a cap and trade, and lets not forget immigration reform to pass through to become law. I do firmly believe that tape and wire that holds things together will stay in place via the goop of more stimulus until these measures are made law…
After that???? heheheheheh… perhaps open the floodgates?
