As an agent, I don´t read the bailout package notices when I list a property. My client is the seller, not the bank or uncle sam.
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And herein lies the problem, IMHO.
If the taxpayers are bailing out the financial industry (and there is NO doubt that we are), then it is the **lender** who should see all offers and accept the highest/best offer that reduces the liability for the taxpayers.
I’m not talking about what current law dictates; I’m talking about common sense — the fact that it is the BANK taking the loss, so what the over-encumbered “seller” wants is irrelevant.
This stinks of an inside deal, and our representatives have got to put a stop to this garbage!
