Headaches… - Posted by JT-IN
Posted by JT-IN on July 30, 2007 at 19:37:30:
Headaches have been known to RUIN opportunities…
Re: Ding, dong…ding dong…chiming in here… - Posted by Kristine-CA
Posted by Kristine-CA on July 30, 2007 at 18:20:42:
Oh but Gene these same banks were around in the 90s. They have
seen this before, especially in CA Central Valley. They are no strangers
to REOs. Not at all. Some of their employees are even the same. 
When I started in 2000, I worked properties that had been foreclosed
on in the mid-90s and were still REOs. Some fell through the cracks.
Some had liability issues so they…fell through the cracks. My favorite
one was a BofA property where the heirs of the owner were living there,
rent free going on three years. The bank told me that would sell it for
22K. I offered 18K and they countered with 29K. And so it would go.
They are getting hammered, sure, but there are things they could do to
mitigate the damage, hence the name of the loss mitigation dept. I’m
not seeing a lot of mitigation just yet. Kristine
Re: Headaches… - Posted by Kristine-CA
Posted by Kristine-CA on July 30, 2007 at 20:13:59:
Wasn’t it you who told me that “a little stress” and headaches is what I’m
getting paid for? My CMG (catholic guilt complex) often kicks in when
there is a payday without stress and headaches. Kristine