I hear what you are saying SD R, and I’m not a big believer in govermental meddling, But wasn’t the time to worry about “loss mitigation” back when they approved these crazy loans? I have NO sympathy now.
But from a strictly numbers sense, aren’t these delays and denials simply making the problem worse? They deny a sale, the owner then turns off the sprinkler, takes out the appliances and abandons the property. Then the property finally ends up on THEIR roles and then they have to sell “a brown lawn special”. In general, I would suspect they would get less than a short sale now.
So are they really “mitigating” the loss? In some cases, aren’t they making it worse? Not just for the “fb” and the economy, but also for their shareholders for whom they are suppossed to be working.
