Lender Rules!

June 26, 2009 at 10:43 am Leave a comment

It is hard to understand why the industry that put all of us in this bad state of recession is getting the most money from people they victimized. The lending industry, despite the bad mistakes they’ve committed in the past, was awarded billions of government dollars to recover. I wonder what would have happened if they were left to reorganize on their own. That would teach a careless child a lesson, wouldn’t it?

But no, instead we are spoiling the lenders with bailouts. Lenders are controlling the housing market by holding off on selling imminent foreclosures to the public. Interest rates have risen, slowing down mortgage applications. Close of escrow is delayed more often than not, even to the best of buyers, because lenders are backlogged. Despite the increase in sales by numerous banks and lending institutions, the rewards to the average Joe are slow in coming. Pending foreclosures are still high and distressed homeowners are not getting answers.

Big banks tend to act like sharks, only doing what is best for them, not for you. I’m not sure if there are any banks out there other than credit unions who really listen to their customers right now. “The lender rules. It’s their way or the highway!”

Entry filed under: Arizona Real Estate, Chandler Real Estate, Foreclosures & Short Sales, Phoenix Real Estate, Real Estate Deals. Tags: , .

Tips on Moving from a Foreclosure to a Rental Attendance at Trustee’s Sales Grows as Investors Hunt for Bargains

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