Sacramento Short Sale Blog July 22, 2010 - Loan Service Fraud ?

Banks Loose Huge Sums of money on real estate loans they manage for fannie-mae and freddie mac.

As sales cooled and bankers were being bankers, many sales were blown by many banks causing very high, needless losses to the owners of fannie and freddie loans that these banks... "manage-very poorly". The only profits being made are the service charges paid to the banks. Their policies always leav the borrowers and loan owners worse off and holding the bag. These loan service companies cause bigger losses than if realtor's just sold the houses and then sent the money to the beneficiary. The debt collectors and borrowers could work out the rest after the sale. This process could bypass these freaking debt collector / loan service companies so their deal killing clerks wouls stop milking their fannie and freddie investors. Often fannie and freddie investors never even see a short sale file, because it is buried by one of their obtuse clerks.

REO and traditional sales only produced one new mls sale transaction in Citrus Heights and Orangevale over the first 22 days of July, as 30 new short sale transactions were created.

The loan service companies for the banks are hurting the whole real estate industry, they should be eliminated from the short sale process.

Published by Mike Jaeger Live - 2010 -

Ron Paul, Lou Dobbs and Sharron Angle on Freedom Watch

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Published by Mike Jaeger Live

Sacramento Real Estate Sales Data Through 2010

Published by Mike Jaeger Live*** Publisher's Note ***:
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TrendVisionTM

Published Jul. 2010
Location : All Sac. County areas combined

Number of Homes For Sale vs. Sold vs. Pended (Apr. 2009 - Jun. 2010)
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Single Family Homes - All Properties Prepared for you by: Mike Jaeger
Bedrooms: 0 - No Limit
Full Bathrooms: 0 - No Limit
Half Bathrooms: 0 - No Limit
Year Built: 0 - No Limit

1 month 1 year 15 months
May 10 June 10 % Change June 09 June 10 % Change Apr 09 June 10 % Change
For Sale 4365 4733 8.4% 4242 4733 11.6% 5176 4733 -8.6%
Sold 1753 1697 -3.2% 1809 1697 -6.2% 1783 1697 -4.8%
Pended 1757 2488 41.6% 2274 2488 9.4% 2475 2488 0.5%