“The banks should be forced by the FDIC and other govt regulators to take these properties back and they should then be forced to auction them off on a national site (with a minimum 30-day marketing time) where online bidders are pre-qualified through the GSEs and every transaction can be tracked.”
It occurred to me one day a few weeks ago that Ebay would be a much better way of selling properties than the current system. It is just unbelievable to me that bids offered on properties are not public knowledge. If I am interested in a property I should immediately be able to see what offers have already been made so I can judge whether it is worth my time.
This monopoly on RE information has got to end. The only “fair” part of the current system is the Trustee Sale. After that, all bets are off, and the game begins. A game of deceit and misinformation that I’d rather not play.
