What is Really Happening in the Foreclosure / REO Real Estate Process / Market? One Agent's Point of View (via East Bay Real Estate: Caldecott Properties )

I like this.

He asks, “When will we do the right thing for all Americans?”

I would like the answer to that question myself.

James Pilant

This is a great article and it sums up the mortgage crisis brilliantly. JP

Is it possible there is a corrupted process at the very top (wall street executives, wall street investors, bank executives, hedge funds, etc.) Here is a thought: We know banks are not willing to reduce the principle loan amount for owners under water. That can easily be measured by the number of completed loan modification that include a principal reduction. Very (very) few: About 49,000 of all the proprietary modifications completed reduced bot … Read More

via East Bay Real Estate: Caldecott Properties

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Tags: antoine-pirson, bay-area-real-estate, caldecott, fannie-mae, first-time-home-buyers, foreclosure, foreclosures, oakland-condos, reo, short-sales