[SD Realtor]

The best time to buy is when you find a home that you really love and can afford it. The best time to buy varies from person to person.

All to often, people determine the best time to buy as measured by the overall market conditions which is incorrect. So most people incorrectly apply what we all learned in basic chemistry:

Best time to buy = Bottom of the market

Wrong.

The market may be at a bottom while you may not be making as much income as you need. Conversely you may have a pile of cash but the market is not at the bottom.

Furthermore trying to identify the bottom of the market is hard. Many many people whiffed on that call who regularly post here. Odds are that we have more downhill sledding ahead of us.

[SD Realtor]

The best time to buy is when you find a home that you really love and can afford it. The best time to buy varies from person to person.

All to often, people determine the best time to buy as measured by the overall market conditions which is incorrect. So most people incorrectly apply what we all learned in basic chemistry:

Best time to buy = Bottom of the market

Wrong.

The market may be at a bottom while you may not be making as much income as you need. Conversely you may have a pile of cash but the market is not at the bottom.

Furthermore trying to identify the bottom of the market is hard. Many many people whiffed on that call who regularly post here. Odds are that we have more downhill sledding ahead of us.

[SD Realtor]

The best time to buy is when you find a home that you really love and can afford it. The best time to buy varies from person to person.

All to often, people determine the best time to buy as measured by the overall market conditions which is incorrect. So most people incorrectly apply what we all learned in basic chemistry:

Best time to buy = Bottom of the market

Wrong.

The market may be at a bottom while you may not be making as much income as you need. Conversely you may have a pile of cash but the market is not at the bottom.

Furthermore trying to identify the bottom of the market is hard. Many many people whiffed on that call who regularly post here. Odds are that we have more downhill sledding ahead of us.

[SD Realtor]

The best time to buy is when you find a home that you really love and can afford it. The best time to buy varies from person to person.

All to often, people determine the best time to buy as measured by the overall market conditions which is incorrect. So most people incorrectly apply what we all learned in basic chemistry:

Best time to buy = Bottom of the market

Wrong.

The market may be at a bottom while you may not be making as much income as you need. Conversely you may have a pile of cash but the market is not at the bottom.

Furthermore trying to identify the bottom of the market is hard. Many many people whiffed on that call who regularly post here. Odds are that we have more downhill sledding ahead of us.

[SD Realtor]

BYU will be a tough game. Fredette is unconcious but think the aztecs have the better team.

Steve Fisher was the best hire in school history. He has a little wooden in him.

[SD Realtor]

BYU will be a tough game. Fredette is unconcious but think the aztecs have the better team.

Steve Fisher was the best hire in school history. He has a little wooden in him.

[SD Realtor]

BYU will be a tough game. Fredette is unconcious but think the aztecs have the better team.

Steve Fisher was the best hire in school history. He has a little wooden in him.

[SD Realtor]

BYU will be a tough game. Fredette is unconcious but think the aztecs have the better team.

Steve Fisher was the best hire in school history. He has a little wooden in him.

[SD Realtor]

BYU will be a tough game. Fredette is unconcious but think the aztecs have the better team.

Steve Fisher was the best hire in school history. He has a little wooden in him.

[SD Realtor]

Yes you should call agents. Lets not forget that EVERY buyer is privy to looking at the PR when escrow opens. Thus they have not spent a penny and can find out about any recorded liens. Thus your assertion is that the following events have happened AFTER the pr is run but BEFORE the close of escrow so buyers lost money because of the following:

-owe far more than what the face of their outstanding trust deed(s) of record indicate, due to late fees and other charges?

**The above one doesn’t even count because that would be on the PR.

-recently lost a civil case and are soon to have an abstract filed against them?

**Again, your assertion being that somehow a lien would be filed or something that would prevent the transfer of title. Also that this has occurred after the pr but before COE.

-have been in a running feud with the IRS/FTB and the agency is about to file liens (or they are already filed)?

**Once more the lien is filed after the PR at opening of escrow but before close of escrow.

-have a DCSS lien for back child support to an agency or ex spouse for children who are now 27 and 33?

**Once more the lien is filed after the pr at opening of escrow but before close of escrow.

-have abstracts of judgment on file for domestic judgments, collection judgments, civil judgments, etc?

**Once again, these abstracts prevented the sale after the opening but before the close of escrow.

-are behind in HOA dues by six months and the HO Assn is about to file a lien (or already has)?

**Again, the lien was filed after the pr at open of escrow but before closing.

I’m curious about something, SDR. Not sure if you handle a lot of “short sales,” but I would just ask, What’s the “draw” in handling them?

**There is no draw. I list what I want to and turn down what I want to. Not sure if you noticed but over the past 4 years they make up a large segment of the market.

Do you feel like you are performing a “public service for the greater good?”

**Are you off of your meds? Of course not.

Or is it just because that’s where the “need” is right now because owners with equity (read: “choices” in life) wouldn’t in their right minds try to market their properties right now?

**Umm there are owners with equity selling homes as well.

Don’t you often feel like unless you have lenders as regular clients stemming from listing REOs that you, as an agent, representing a buyer or seller in a “short sale” are just banging your head into a brick wall, due to the incompetence of servicers and other lender “contractors?”

**Actually a ufo lands every now and then and by some miracle I get a deal done. However the moon has to be dark purple and some snow has to fall in Mission Bay. Honestly I don’t know how I do it! Me and every other agent who has ever completed a short sale have a direct line to the lord above when we really really need to close one. He calls BofA and rolls some heads and PRESTO the deal gets done.

Doesn’t the utter incompetence (and corruption) inherent within the short-sale “system” make you want to dump the clients and the sale and seek an easier listing/sale to deal with to make the same amt of commission?

**I am an electrical engineer by trade. For 20 years I wrote code, ran groups and at one time directed over 50 people. I have seen incompetence at plenty of different levels in the corporate world. If you think it is confined to loan servicing you are wrong. Similarly I worked 70 hour weeks for months at a time during project cycles when I was a young engineer. You think having to spend countless hours on the phone with an idiot from loan servicing is hard day after day? Try being up at 3 in the morning when your code doesn’t compile or your simulations crash cuz some asshole on your team made change with their code and your ports are mismatched. Try showing some clients homes for months only to have them stab you in the back and do a sale with some slimy agent that is holding an open house. waah waah waah… incompetence and sleaze in short sales. Get over it. To me it is just another f’d up part of life. The weak cannot get it done, I can. So can many others.

Or even change careers? Is it difficult to obtain straightforward “traditional” listings today

**Real estate is probably one of the easiest careers there is if you know how to deal with people and can get sh=t done. If you are someone who gives up on things and gets discouraged when things get tricky then go do something else.

And do you really think “short-sales” are the answer to this backlog of inventory, when they often take much longer than foreclosure?

**Well you can thank the gubment for that. Instead of forcing the loan servicing orgs to act in an expedient manner, they simply said… well nothing. Don’t hate the player hate the game sister.

Do you personally think it’s “fair” that these “primadonna” delinquent homeowner-types “who don’t want anyone walking thru” their home should be “rescued” by a buyer and “forgiven” of some of their debt, rather than just have to suck it up and get foreclosed upon?

**I think you like to lump everything in as one stereotype. I think the way the system is now is about as screwy as it can be. I can choose to make money off of it or whine about it and watch people make money off of it. I think I will make money off of it. You however can go ahead and find these sellers who do this, call their lenders and let them know what is going on. If it bugs you so much then do something about it.

Haven’t the majority of these “deadbeat short-sale sellers” already removed all of their equity and then some?

**Brilliant question. ummm I think by definition, yes a short seller has removed most of their equity. Although I better check wikipedia because maybe there are short sellers out there that have equity!

And lastly, do you personally feel sorry for individuals who bought RE at the wrong time and thus are now “underwater,” if they never took any “cash-out” of their property?

** Go back my posts in 06 and 07. While everyone else was posting about how all these lenders were at fault for manipulating buyers I CONSISTENTLY posted that the only person at fault are the buyers. and I quote… “Nobody was holding a gun to their head and forced the to sign loan docs” (footnote SD Realtor, some postings.. a long time ago)

In the past, if this happened, an owner who HAD to move (mil. orders, etc) would just rent their property out at a neg cash flow and wait for a better day. What’s preventing owners from doing this today instead of trying to “short-sale,” which impacts their credit report?

**Nothing is. In fact I have had seller sell a home and come in with cash to cover the shortfall. I have had sellers sell a home and come in with a bridge loan in order to prevent a short sale. These are obviously not the norm but it is nice to see a sense of responsibility in a few people. It is a pretty sad commentary that the majority of our society is a walk away from problem, or govt take care of me type. However that is the direction that many choose to take.

Do you think these “poor” owners now have the right of cramdown or “loan forgiveness” because they were compelled to “follow the herd” in 2005?

**Again go find my earlier posts and see my thoughts about loan forgiveness and loan mods for homeowners. My tenor was more along the lines of kill em all and let god sort them out.

How is this “herd mentality” the problem of everyone who sat out or made their mtg payments on time continuously throughout this “bubblicious” party?

**See above post. You missed my infamous posting war with a poster who came on here an bragged about his living without paying a mortgage. He actually talked about how he lived like a rock star. I called him a deadbeat and he freaked out on me. There were other posters here agreeing that what he was doing was fine. I can honestly only remember JP not agreeing with what he was doing. Maybe there were one or two others. Mnay people said it was the banks fault for taking so long to kick him out. Which may be true but a deadbeat is a deadbeat in my book.

How is a “coddled adult” who is a recipient of gov’mt largesse after squeezing every last drop of equity out of their property ever going to learn life lessons about the consequences of not reading their loan docs before signing them and making bad investments if HUGE “short-sale/HAMP etc systems” are set up to “rescue” them from their ignorance and stupidity?

**Welcome to the new reality. Pretty sad isn’t it?

*****************

Like I said, if you go back to many of my postings you will see my feelings on all of the topics you brought up. Also I have posted many times that you can look at events as opportunities. Try to learn and prosper from them. As difficult as anything is, you can avoid it or you can master it. You know what I am saying? I haven’t done near the volume that sdr does but I have done plenty of them and I am a one man operation. I have other interests and other businesses so I don’t live and die with this stuff. If you let it, it will keep you up at night and make life miserable. Any profession will do that right?

[SD Realtor]

Yes you should call agents. Lets not forget that EVERY buyer is privy to looking at the PR when escrow opens. Thus they have not spent a penny and can find out about any recorded liens. Thus your assertion is that the following events have happened AFTER the pr is run but BEFORE the close of escrow so buyers lost money because of the following:

-owe far more than what the face of their outstanding trust deed(s) of record indicate, due to late fees and other charges?

**The above one doesn’t even count because that would be on the PR.

-recently lost a civil case and are soon to have an abstract filed against them?

**Again, your assertion being that somehow a lien would be filed or something that would prevent the transfer of title. Also that this has occurred after the pr but before COE.

-have been in a running feud with the IRS/FTB and the agency is about to file liens (or they are already filed)?

**Once more the lien is filed after the PR at opening of escrow but before close of escrow.

-have a DCSS lien for back child support to an agency or ex spouse for children who are now 27 and 33?

**Once more the lien is filed after the pr at opening of escrow but before close of escrow.

-have abstracts of judgment on file for domestic judgments, collection judgments, civil judgments, etc?

**Once again, these abstracts prevented the sale after the opening but before the close of escrow.

-are behind in HOA dues by six months and the HO Assn is about to file a lien (or already has)?

**Again, the lien was filed after the pr at open of escrow but before closing.

I’m curious about something, SDR. Not sure if you handle a lot of “short sales,” but I would just ask, What’s the “draw” in handling them?

**There is no draw. I list what I want to and turn down what I want to. Not sure if you noticed but over the past 4 years they make up a large segment of the market.

Do you feel like you are performing a “public service for the greater good?”

**Are you off of your meds? Of course not.

Or is it just because that’s where the “need” is right now because owners with equity (read: “choices” in life) wouldn’t in their right minds try to market their properties right now?

**Umm there are owners with equity selling homes as well.

Don’t you often feel like unless you have lenders as regular clients stemming from listing REOs that you, as an agent, representing a buyer or seller in a “short sale” are just banging your head into a brick wall, due to the incompetence of servicers and other lender “contractors?”

**Actually a ufo lands every now and then and by some miracle I get a deal done. However the moon has to be dark purple and some snow has to fall in Mission Bay. Honestly I don’t know how I do it! Me and every other agent who has ever completed a short sale have a direct line to the lord above when we really really need to close one. He calls BofA and rolls some heads and PRESTO the deal gets done.

Doesn’t the utter incompetence (and corruption) inherent within the short-sale “system” make you want to dump the clients and the sale and seek an easier listing/sale to deal with to make the same amt of commission?

**I am an electrical engineer by trade. For 20 years I wrote code, ran groups and at one time directed over 50 people. I have seen incompetence at plenty of different levels in the corporate world. If you think it is confined to loan servicing you are wrong. Similarly I worked 70 hour weeks for months at a time during project cycles when I was a young engineer. You think having to spend countless hours on the phone with an idiot from loan servicing is hard day after day? Try being up at 3 in the morning when your code doesn’t compile or your simulations crash cuz some asshole on your team made change with their code and your ports are mismatched. Try showing some clients homes for months only to have them stab you in the back and do a sale with some slimy agent that is holding an open house. waah waah waah… incompetence and sleaze in short sales. Get over it. To me it is just another f’d up part of life. The weak cannot get it done, I can. So can many others.

Or even change careers? Is it difficult to obtain straightforward “traditional” listings today

**Real estate is probably one of the easiest careers there is if you know how to deal with people and can get sh=t done. If you are someone who gives up on things and gets discouraged when things get tricky then go do something else.

And do you really think “short-sales” are the answer to this backlog of inventory, when they often take much longer than foreclosure?

**Well you can thank the gubment for that. Instead of forcing the loan servicing orgs to act in an expedient manner, they simply said… well nothing. Don’t hate the player hate the game sister.

Do you personally think it’s “fair” that these “primadonna” delinquent homeowner-types “who don’t want anyone walking thru” their home should be “rescued” by a buyer and “forgiven” of some of their debt, rather than just have to suck it up and get foreclosed upon?

**I think you like to lump everything in as one stereotype. I think the way the system is now is about as screwy as it can be. I can choose to make money off of it or whine about it and watch people make money off of it. I think I will make money off of it. You however can go ahead and find these sellers who do this, call their lenders and let them know what is going on. If it bugs you so much then do something about it.

Haven’t the majority of these “deadbeat short-sale sellers” already removed all of their equity and then some?

**Brilliant question. ummm I think by definition, yes a short seller has removed most of their equity. Although I better check wikipedia because maybe there are short sellers out there that have equity!

And lastly, do you personally feel sorry for individuals who bought RE at the wrong time and thus are now “underwater,” if they never took any “cash-out” of their property?

** Go back my posts in 06 and 07. While everyone else was posting about how all these lenders were at fault for manipulating buyers I CONSISTENTLY posted that the only person at fault are the buyers. and I quote… “Nobody was holding a gun to their head and forced the to sign loan docs” (footnote SD Realtor, some postings.. a long time ago)

In the past, if this happened, an owner who HAD to move (mil. orders, etc) would just rent their property out at a neg cash flow and wait for a better day. What’s preventing owners from doing this today instead of trying to “short-sale,” which impacts their credit report?

**Nothing is. In fact I have had seller sell a home and come in with cash to cover the shortfall. I have had sellers sell a home and come in with a bridge loan in order to prevent a short sale. These are obviously not the norm but it is nice to see a sense of responsibility in a few people. It is a pretty sad commentary that the majority of our society is a walk away from problem, or govt take care of me type. However that is the direction that many choose to take.

Do you think these “poor” owners now have the right of cramdown or “loan forgiveness” because they were compelled to “follow the herd” in 2005?

**Again go find my earlier posts and see my thoughts about loan forgiveness and loan mods for homeowners. My tenor was more along the lines of kill em all and let god sort them out.

How is this “herd mentality” the problem of everyone who sat out or made their mtg payments on time continuously throughout this “bubblicious” party?

**See above post. You missed my infamous posting war with a poster who came on here an bragged about his living without paying a mortgage. He actually talked about how he lived like a rock star. I called him a deadbeat and he freaked out on me. There were other posters here agreeing that what he was doing was fine. I can honestly only remember JP not agreeing with what he was doing. Maybe there were one or two others. Mnay people said it was the banks fault for taking so long to kick him out. Which may be true but a deadbeat is a deadbeat in my book.

How is a “coddled adult” who is a recipient of gov’mt largesse after squeezing every last drop of equity out of their property ever going to learn life lessons about the consequences of not reading their loan docs before signing them and making bad investments if HUGE “short-sale/HAMP etc systems” are set up to “rescue” them from their ignorance and stupidity?

**Welcome to the new reality. Pretty sad isn’t it?

*****************

Like I said, if you go back to many of my postings you will see my feelings on all of the topics you brought up. Also I have posted many times that you can look at events as opportunities. Try to learn and prosper from them. As difficult as anything is, you can avoid it or you can master it. You know what I am saying? I haven’t done near the volume that sdr does but I have done plenty of them and I am a one man operation. I have other interests and other businesses so I don’t live and die with this stuff. If you let it, it will keep you up at night and make life miserable. Any profession will do that right?

[SD Realtor]

Yes you should call agents. Lets not forget that EVERY buyer is privy to looking at the PR when escrow opens. Thus they have not spent a penny and can find out about any recorded liens. Thus your assertion is that the following events have happened AFTER the pr is run but BEFORE the close of escrow so buyers lost money because of the following:

-owe far more than what the face of their outstanding trust deed(s) of record indicate, due to late fees and other charges?

**The above one doesn’t even count because that would be on the PR.

-recently lost a civil case and are soon to have an abstract filed against them?

**Again, your assertion being that somehow a lien would be filed or something that would prevent the transfer of title. Also that this has occurred after the pr but before COE.

-have been in a running feud with the IRS/FTB and the agency is about to file liens (or they are already filed)?

**Once more the lien is filed after the PR at opening of escrow but before close of escrow.

-have a DCSS lien for back child support to an agency or ex spouse for children who are now 27 and 33?

**Once more the lien is filed after the pr at opening of escrow but before close of escrow.

-have abstracts of judgment on file for domestic judgments, collection judgments, civil judgments, etc?

**Once again, these abstracts prevented the sale after the opening but before the close of escrow.

-are behind in HOA dues by six months and the HO Assn is about to file a lien (or already has)?

**Again, the lien was filed after the pr at open of escrow but before closing.

I’m curious about something, SDR. Not sure if you handle a lot of “short sales,” but I would just ask, What’s the “draw” in handling them?

**There is no draw. I list what I want to and turn down what I want to. Not sure if you noticed but over the past 4 years they make up a large segment of the market.

Do you feel like you are performing a “public service for the greater good?”

**Are you off of your meds? Of course not.

Or is it just because that’s where the “need” is right now because owners with equity (read: “choices” in life) wouldn’t in their right minds try to market their properties right now?

**Umm there are owners with equity selling homes as well.

Don’t you often feel like unless you have lenders as regular clients stemming from listing REOs that you, as an agent, representing a buyer or seller in a “short sale” are just banging your head into a brick wall, due to the incompetence of servicers and other lender “contractors?”

**Actually a ufo lands every now and then and by some miracle I get a deal done. However the moon has to be dark purple and some snow has to fall in Mission Bay. Honestly I don’t know how I do it! Me and every other agent who has ever completed a short sale have a direct line to the lord above when we really really need to close one. He calls BofA and rolls some heads and PRESTO the deal gets done.

Doesn’t the utter incompetence (and corruption) inherent within the short-sale “system” make you want to dump the clients and the sale and seek an easier listing/sale to deal with to make the same amt of commission?

**I am an electrical engineer by trade. For 20 years I wrote code, ran groups and at one time directed over 50 people. I have seen incompetence at plenty of different levels in the corporate world. If you think it is confined to loan servicing you are wrong. Similarly I worked 70 hour weeks for months at a time during project cycles when I was a young engineer. You think having to spend countless hours on the phone with an idiot from loan servicing is hard day after day? Try being up at 3 in the morning when your code doesn’t compile or your simulations crash cuz some asshole on your team made change with their code and your ports are mismatched. Try showing some clients homes for months only to have them stab you in the back and do a sale with some slimy agent that is holding an open house. waah waah waah… incompetence and sleaze in short sales. Get over it. To me it is just another f’d up part of life. The weak cannot get it done, I can. So can many others.

Or even change careers? Is it difficult to obtain straightforward “traditional” listings today

**Real estate is probably one of the easiest careers there is if you know how to deal with people and can get sh=t done. If you are someone who gives up on things and gets discouraged when things get tricky then go do something else.

And do you really think “short-sales” are the answer to this backlog of inventory, when they often take much longer than foreclosure?

**Well you can thank the gubment for that. Instead of forcing the loan servicing orgs to act in an expedient manner, they simply said… well nothing. Don’t hate the player hate the game sister.

Do you personally think it’s “fair” that these “primadonna” delinquent homeowner-types “who don’t want anyone walking thru” their home should be “rescued” by a buyer and “forgiven” of some of their debt, rather than just have to suck it up and get foreclosed upon?

**I think you like to lump everything in as one stereotype. I think the way the system is now is about as screwy as it can be. I can choose to make money off of it or whine about it and watch people make money off of it. I think I will make money off of it. You however can go ahead and find these sellers who do this, call their lenders and let them know what is going on. If it bugs you so much then do something about it.

Haven’t the majority of these “deadbeat short-sale sellers” already removed all of their equity and then some?

**Brilliant question. ummm I think by definition, yes a short seller has removed most of their equity. Although I better check wikipedia because maybe there are short sellers out there that have equity!

And lastly, do you personally feel sorry for individuals who bought RE at the wrong time and thus are now “underwater,” if they never took any “cash-out” of their property?

** Go back my posts in 06 and 07. While everyone else was posting about how all these lenders were at fault for manipulating buyers I CONSISTENTLY posted that the only person at fault are the buyers. and I quote… “Nobody was holding a gun to their head and forced the to sign loan docs” (footnote SD Realtor, some postings.. a long time ago)

In the past, if this happened, an owner who HAD to move (mil. orders, etc) would just rent their property out at a neg cash flow and wait for a better day. What’s preventing owners from doing this today instead of trying to “short-sale,” which impacts their credit report?

**Nothing is. In fact I have had seller sell a home and come in with cash to cover the shortfall. I have had sellers sell a home and come in with a bridge loan in order to prevent a short sale. These are obviously not the norm but it is nice to see a sense of responsibility in a few people. It is a pretty sad commentary that the majority of our society is a walk away from problem, or govt take care of me type. However that is the direction that many choose to take.

Do you think these “poor” owners now have the right of cramdown or “loan forgiveness” because they were compelled to “follow the herd” in 2005?

**Again go find my earlier posts and see my thoughts about loan forgiveness and loan mods for homeowners. My tenor was more along the lines of kill em all and let god sort them out.

How is this “herd mentality” the problem of everyone who sat out or made their mtg payments on time continuously throughout this “bubblicious” party?

**See above post. You missed my infamous posting war with a poster who came on here an bragged about his living without paying a mortgage. He actually talked about how he lived like a rock star. I called him a deadbeat and he freaked out on me. There were other posters here agreeing that what he was doing was fine. I can honestly only remember JP not agreeing with what he was doing. Maybe there were one or two others. Mnay people said it was the banks fault for taking so long to kick him out. Which may be true but a deadbeat is a deadbeat in my book.

How is a “coddled adult” who is a recipient of gov’mt largesse after squeezing every last drop of equity out of their property ever going to learn life lessons about the consequences of not reading their loan docs before signing them and making bad investments if HUGE “short-sale/HAMP etc systems” are set up to “rescue” them from their ignorance and stupidity?

**Welcome to the new reality. Pretty sad isn’t it?

*****************

Like I said, if you go back to many of my postings you will see my feelings on all of the topics you brought up. Also I have posted many times that you can look at events as opportunities. Try to learn and prosper from them. As difficult as anything is, you can avoid it or you can master it. You know what I am saying? I haven’t done near the volume that sdr does but I have done plenty of them and I am a one man operation. I have other interests and other businesses so I don’t live and die with this stuff. If you let it, it will keep you up at night and make life miserable. Any profession will do that right?

[SD Realtor]

Yes you should call agents. Lets not forget that EVERY buyer is privy to looking at the PR when escrow opens. Thus they have not spent a penny and can find out about any recorded liens. Thus your assertion is that the following events have happened AFTER the pr is run but BEFORE the close of escrow so buyers lost money because of the following:

-owe far more than what the face of their outstanding trust deed(s) of record indicate, due to late fees and other charges?

**The above one doesn’t even count because that would be on the PR.

-recently lost a civil case and are soon to have an abstract filed against them?

**Again, your assertion being that somehow a lien would be filed or something that would prevent the transfer of title. Also that this has occurred after the pr but before COE.

-have been in a running feud with the IRS/FTB and the agency is about to file liens (or they are already filed)?

**Once more the lien is filed after the PR at opening of escrow but before close of escrow.

-have a DCSS lien for back child support to an agency or ex spouse for children who are now 27 and 33?

**Once more the lien is filed after the pr at opening of escrow but before close of escrow.

-have abstracts of judgment on file for domestic judgments, collection judgments, civil judgments, etc?

**Once again, these abstracts prevented the sale after the opening but before the close of escrow.

-are behind in HOA dues by six months and the HO Assn is about to file a lien (or already has)?

**Again, the lien was filed after the pr at open of escrow but before closing.

I’m curious about something, SDR. Not sure if you handle a lot of “short sales,” but I would just ask, What’s the “draw” in handling them?

**There is no draw. I list what I want to and turn down what I want to. Not sure if you noticed but over the past 4 years they make up a large segment of the market.

Do you feel like you are performing a “public service for the greater good?”

**Are you off of your meds? Of course not.

Or is it just because that’s where the “need” is right now because owners with equity (read: “choices” in life) wouldn’t in their right minds try to market their properties right now?

**Umm there are owners with equity selling homes as well.

Don’t you often feel like unless you have lenders as regular clients stemming from listing REOs that you, as an agent, representing a buyer or seller in a “short sale” are just banging your head into a brick wall, due to the incompetence of servicers and other lender “contractors?”

**Actually a ufo lands every now and then and by some miracle I get a deal done. However the moon has to be dark purple and some snow has to fall in Mission Bay. Honestly I don’t know how I do it! Me and every other agent who has ever completed a short sale have a direct line to the lord above when we really really need to close one. He calls BofA and rolls some heads and PRESTO the deal gets done.

Doesn’t the utter incompetence (and corruption) inherent within the short-sale “system” make you want to dump the clients and the sale and seek an easier listing/sale to deal with to make the same amt of commission?

**I am an electrical engineer by trade. For 20 years I wrote code, ran groups and at one time directed over 50 people. I have seen incompetence at plenty of different levels in the corporate world. If you think it is confined to loan servicing you are wrong. Similarly I worked 70 hour weeks for months at a time during project cycles when I was a young engineer. You think having to spend countless hours on the phone with an idiot from loan servicing is hard day after day? Try being up at 3 in the morning when your code doesn’t compile or your simulations crash cuz some asshole on your team made change with their code and your ports are mismatched. Try showing some clients homes for months only to have them stab you in the back and do a sale with some slimy agent that is holding an open house. waah waah waah… incompetence and sleaze in short sales. Get over it. To me it is just another f’d up part of life. The weak cannot get it done, I can. So can many others.

Or even change careers? Is it difficult to obtain straightforward “traditional” listings today

**Real estate is probably one of the easiest careers there is if you know how to deal with people and can get sh=t done. If you are someone who gives up on things and gets discouraged when things get tricky then go do something else.

And do you really think “short-sales” are the answer to this backlog of inventory, when they often take much longer than foreclosure?

**Well you can thank the gubment for that. Instead of forcing the loan servicing orgs to act in an expedient manner, they simply said… well nothing. Don’t hate the player hate the game sister.

Do you personally think it’s “fair” that these “primadonna” delinquent homeowner-types “who don’t want anyone walking thru” their home should be “rescued” by a buyer and “forgiven” of some of their debt, rather than just have to suck it up and get foreclosed upon?

**I think you like to lump everything in as one stereotype. I think the way the system is now is about as screwy as it can be. I can choose to make money off of it or whine about it and watch people make money off of it. I think I will make money off of it. You however can go ahead and find these sellers who do this, call their lenders and let them know what is going on. If it bugs you so much then do something about it.

Haven’t the majority of these “deadbeat short-sale sellers” already removed all of their equity and then some?

**Brilliant question. ummm I think by definition, yes a short seller has removed most of their equity. Although I better check wikipedia because maybe there are short sellers out there that have equity!

And lastly, do you personally feel sorry for individuals who bought RE at the wrong time and thus are now “underwater,” if they never took any “cash-out” of their property?

** Go back my posts in 06 and 07. While everyone else was posting about how all these lenders were at fault for manipulating buyers I CONSISTENTLY posted that the only person at fault are the buyers. and I quote… “Nobody was holding a gun to their head and forced the to sign loan docs” (footnote SD Realtor, some postings.. a long time ago)

In the past, if this happened, an owner who HAD to move (mil. orders, etc) would just rent their property out at a neg cash flow and wait for a better day. What’s preventing owners from doing this today instead of trying to “short-sale,” which impacts their credit report?

**Nothing is. In fact I have had seller sell a home and come in with cash to cover the shortfall. I have had sellers sell a home and come in with a bridge loan in order to prevent a short sale. These are obviously not the norm but it is nice to see a sense of responsibility in a few people. It is a pretty sad commentary that the majority of our society is a walk away from problem, or govt take care of me type. However that is the direction that many choose to take.

Do you think these “poor” owners now have the right of cramdown or “loan forgiveness” because they were compelled to “follow the herd” in 2005?

**Again go find my earlier posts and see my thoughts about loan forgiveness and loan mods for homeowners. My tenor was more along the lines of kill em all and let god sort them out.

How is this “herd mentality” the problem of everyone who sat out or made their mtg payments on time continuously throughout this “bubblicious” party?

**See above post. You missed my infamous posting war with a poster who came on here an bragged about his living without paying a mortgage. He actually talked about how he lived like a rock star. I called him a deadbeat and he freaked out on me. There were other posters here agreeing that what he was doing was fine. I can honestly only remember JP not agreeing with what he was doing. Maybe there were one or two others. Mnay people said it was the banks fault for taking so long to kick him out. Which may be true but a deadbeat is a deadbeat in my book.

How is a “coddled adult” who is a recipient of gov’mt largesse after squeezing every last drop of equity out of their property ever going to learn life lessons about the consequences of not reading their loan docs before signing them and making bad investments if HUGE “short-sale/HAMP etc systems” are set up to “rescue” them from their ignorance and stupidity?

**Welcome to the new reality. Pretty sad isn’t it?

*****************

Like I said, if you go back to many of my postings you will see my feelings on all of the topics you brought up. Also I have posted many times that you can look at events as opportunities. Try to learn and prosper from them. As difficult as anything is, you can avoid it or you can master it. You know what I am saying? I haven’t done near the volume that sdr does but I have done plenty of them and I am a one man operation. I have other interests and other businesses so I don’t live and die with this stuff. If you let it, it will keep you up at night and make life miserable. Any profession will do that right?

[SD Realtor]

Yes you should call agents. Lets not forget that EVERY buyer is privy to looking at the PR when escrow opens. Thus they have not spent a penny and can find out about any recorded liens. Thus your assertion is that the following events have happened AFTER the pr is run but BEFORE the close of escrow so buyers lost money because of the following:

-owe far more than what the face of their outstanding trust deed(s) of record indicate, due to late fees and other charges?

**The above one doesn’t even count because that would be on the PR.

-recently lost a civil case and are soon to have an abstract filed against them?

**Again, your assertion being that somehow a lien would be filed or something that would prevent the transfer of title. Also that this has occurred after the pr but before COE.

-have been in a running feud with the IRS/FTB and the agency is about to file liens (or they are already filed)?

**Once more the lien is filed after the PR at opening of escrow but before close of escrow.

-have a DCSS lien for back child support to an agency or ex spouse for children who are now 27 and 33?

**Once more the lien is filed after the pr at opening of escrow but before close of escrow.

-have abstracts of judgment on file for domestic judgments, collection judgments, civil judgments, etc?

**Once again, these abstracts prevented the sale after the opening but before the close of escrow.

-are behind in HOA dues by six months and the HO Assn is about to file a lien (or already has)?

**Again, the lien was filed after the pr at open of escrow but before closing.

I’m curious about something, SDR. Not sure if you handle a lot of “short sales,” but I would just ask, What’s the “draw” in handling them?

**There is no draw. I list what I want to and turn down what I want to. Not sure if you noticed but over the past 4 years they make up a large segment of the market.

Do you feel like you are performing a “public service for the greater good?”

**Are you off of your meds? Of course not.

Or is it just because that’s where the “need” is right now because owners with equity (read: “choices” in life) wouldn’t in their right minds try to market their properties right now?

**Umm there are owners with equity selling homes as well.

Don’t you often feel like unless you have lenders as regular clients stemming from listing REOs that you, as an agent, representing a buyer or seller in a “short sale” are just banging your head into a brick wall, due to the incompetence of servicers and other lender “contractors?”

**Actually a ufo lands every now and then and by some miracle I get a deal done. However the moon has to be dark purple and some snow has to fall in Mission Bay. Honestly I don’t know how I do it! Me and every other agent who has ever completed a short sale have a direct line to the lord above when we really really need to close one. He calls BofA and rolls some heads and PRESTO the deal gets done.

Doesn’t the utter incompetence (and corruption) inherent within the short-sale “system” make you want to dump the clients and the sale and seek an easier listing/sale to deal with to make the same amt of commission?

**I am an electrical engineer by trade. For 20 years I wrote code, ran groups and at one time directed over 50 people. I have seen incompetence at plenty of different levels in the corporate world. If you think it is confined to loan servicing you are wrong. Similarly I worked 70 hour weeks for months at a time during project cycles when I was a young engineer. You think having to spend countless hours on the phone with an idiot from loan servicing is hard day after day? Try being up at 3 in the morning when your code doesn’t compile or your simulations crash cuz some asshole on your team made change with their code and your ports are mismatched. Try showing some clients homes for months only to have them stab you in the back and do a sale with some slimy agent that is holding an open house. waah waah waah… incompetence and sleaze in short sales. Get over it. To me it is just another f’d up part of life. The weak cannot get it done, I can. So can many others.

Or even change careers? Is it difficult to obtain straightforward “traditional” listings today

**Real estate is probably one of the easiest careers there is if you know how to deal with people and can get sh=t done. If you are someone who gives up on things and gets discouraged when things get tricky then go do something else.

And do you really think “short-sales” are the answer to this backlog of inventory, when they often take much longer than foreclosure?

**Well you can thank the gubment for that. Instead of forcing the loan servicing orgs to act in an expedient manner, they simply said… well nothing. Don’t hate the player hate the game sister.

Do you personally think it’s “fair” that these “primadonna” delinquent homeowner-types “who don’t want anyone walking thru” their home should be “rescued” by a buyer and “forgiven” of some of their debt, rather than just have to suck it up and get foreclosed upon?

**I think you like to lump everything in as one stereotype. I think the way the system is now is about as screwy as it can be. I can choose to make money off of it or whine about it and watch people make money off of it. I think I will make money off of it. You however can go ahead and find these sellers who do this, call their lenders and let them know what is going on. If it bugs you so much then do something about it.

Haven’t the majority of these “deadbeat short-sale sellers” already removed all of their equity and then some?

**Brilliant question. ummm I think by definition, yes a short seller has removed most of their equity. Although I better check wikipedia because maybe there are short sellers out there that have equity!

And lastly, do you personally feel sorry for individuals who bought RE at the wrong time and thus are now “underwater,” if they never took any “cash-out” of their property?

** Go back my posts in 06 and 07. While everyone else was posting about how all these lenders were at fault for manipulating buyers I CONSISTENTLY posted that the only person at fault are the buyers. and I quote… “Nobody was holding a gun to their head and forced the to sign loan docs” (footnote SD Realtor, some postings.. a long time ago)

In the past, if this happened, an owner who HAD to move (mil. orders, etc) would just rent their property out at a neg cash flow and wait for a better day. What’s preventing owners from doing this today instead of trying to “short-sale,” which impacts their credit report?

**Nothing is. In fact I have had seller sell a home and come in with cash to cover the shortfall. I have had sellers sell a home and come in with a bridge loan in order to prevent a short sale. These are obviously not the norm but it is nice to see a sense of responsibility in a few people. It is a pretty sad commentary that the majority of our society is a walk away from problem, or govt take care of me type. However that is the direction that many choose to take.

Do you think these “poor” owners now have the right of cramdown or “loan forgiveness” because they were compelled to “follow the herd” in 2005?

**Again go find my earlier posts and see my thoughts about loan forgiveness and loan mods for homeowners. My tenor was more along the lines of kill em all and let god sort them out.

How is this “herd mentality” the problem of everyone who sat out or made their mtg payments on time continuously throughout this “bubblicious” party?

**See above post. You missed my infamous posting war with a poster who came on here an bragged about his living without paying a mortgage. He actually talked about how he lived like a rock star. I called him a deadbeat and he freaked out on me. There were other posters here agreeing that what he was doing was fine. I can honestly only remember JP not agreeing with what he was doing. Maybe there were one or two others. Mnay people said it was the banks fault for taking so long to kick him out. Which may be true but a deadbeat is a deadbeat in my book.

How is a “coddled adult” who is a recipient of gov’mt largesse after squeezing every last drop of equity out of their property ever going to learn life lessons about the consequences of not reading their loan docs before signing them and making bad investments if HUGE “short-sale/HAMP etc systems” are set up to “rescue” them from their ignorance and stupidity?

**Welcome to the new reality. Pretty sad isn’t it?

*****************

Like I said, if you go back to many of my postings you will see my feelings on all of the topics you brought up. Also I have posted many times that you can look at events as opportunities. Try to learn and prosper from them. As difficult as anything is, you can avoid it or you can master it. You know what I am saying? I haven’t done near the volume that sdr does but I have done plenty of them and I am a one man operation. I have other interests and other businesses so I don’t live and die with this stuff. If you let it, it will keep you up at night and make life miserable. Any profession will do that right?

[SD Realtor]

Yet somehow all these short sales are still getting done and completing.

Lets make sure we understand each other. These short sales are not taking a long time to complete because of complex title issues, they are taking a long time because the servicing companies dont give a crap.

Your dissertation on sources of clouds on titles was impressive yet useless and can be compared to a real estate class verses real world application. If we polled every short sale to see which ones had some of the title clouds that you mentioned stop or prohibit the sale verses what REALLY happens in a short sale the difference would be laughable.

Buyers walk on short sales because THEY TAKE TO LONG TO COMPLETE. The buyers either find another home, or throw in the towel. The second biggest reason the buyers walk on a short sale? Because they inspect the home and find out there are more problems with it then they want to put up with and the short sale lender will not repair or kick in credits. Other reasons? The short sale lender will not pay for termite or home warranty. Other reasons? There are additional liens that are disclosed but are FOUND ON THE PR such as HOA or mechanics liens that the seller will not pay and the lender will not pay.

Now if you want to bring up judgements due to child support or deadbeat dads or whatever, yes those do exist. While those in debt have more problems then being in default I bet NOT A SINGLE PERSON ON THIS ENTIRE BOARD has a short sale that fell through due to your litany of court order judgements you ran off.

I try to be reasonable in my posts and give advice that is practical and based on what I have experienced and seen. Additionally what I have talked with other agents about and what they have experienced and seen. I believe that some of the things you have said while they may be factual will actually be quite misleading to uninformed buyers because they are very much fringe cases and not anywhere close to the norm of how things really happen and what the majority of transactions actually experience. You have no idea what I say or do with regards to my clients buyer or seller in short sales or other sales. Furthermore you have no idea at all how many short sale buyers have walked due to what you think are civil/domestic judgements. I dont either but I will put my money on a number close to zero.

Of course people runup ccs and helocs. You seem to conveniently ignore that a pr is something that is available to any short sale buyer before he spends a penny on due diligence.

Honestly, you may be well intentioned but you may be doing more harm then good in assessing what happens in the vast majority of short sales. Why don’t you call up some agents and ask them to give you numbers rather then speculate.

***********

Forgot to add this but it is on the list of why people get pissed with short sales, it is because of listing agents that double end the deal and don’t give a fair shake to all of the buyers. Also included in that are straddlers and sellers who are selling or trying to sell to friends or family.

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