willingtocope

Suggestions? Got a house to sell...

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 Bottom line...all this fooling around is costing them money.

 

The sad thing is the big banks don't seem to care about money, because the people in charge are not affected. I know of one situation where a major bank spent over 100k in arbitration to try and win a 10k debt. They "won" the battle and then lost the fight after the defendant filed BK. Foreclosed houses in my area sat vacant for months/years with no upkeep. They could have sold them for break even to a small loss, but instead lost big in the end. I hate to say it but JDBs are much smarter when it comes to evaluating risk/reward. At least the JDBs are responsible to their shareholders. Of course when the government gives you money for free why worry about doing what is logical.

 

I hope at least you get some satisfaction from watching them burn their shareholder's $$$$$! :titanic:

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The problem is, any competent employees at these big banks have all left for better jobs. After all, why would anyone competent work for those people. That is why you have to re-fill out the paperwork umpteen million times and deal with a different person. The person you were dealing with has quit with a turnover rate that equals that of a JDB.

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@WhoCares1000 Strangely enough, I've been dealing with the same "Customer Service" representative for the entire 9 months.  From what I see, its the government regulations that were intended to crack down on mortgage fraud (e.g., drive by appraisals, no income verification, etc.) that's getting in the way.  HAMP has some strict rules about what forms need to be filed and how "old" the data in those forms can be.

 

As reluctant as I am to take their side, I must admit that the people I've talked to have been very well trained and they have significant technology at their disposal. 

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Would you believe...we closed on the house today.  Only took two years, last 11 months dealing with the bank.

 

it was a short sale...the mortgage holder got about $31,000 less than I owed, so I may wind up owing taxes on that.  I don't think I'll owe the mortgage holder anything, but we'll see.

 

What I've learned (I think)...

 

My mortgage was insured by FHA.  So, when I defaulted back in Feb/Mar, Chase got paid off by FHA and then Chase became a debt collector for FHA.  So, for the last 9 or 10 months, Chase has been collecting a by-the-hour fee from the government for jacking me around.

 

Something wrong about that.

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