Living the American Dream, NOT!

I just decided this could be good therapy for me and whoever needs to know they are not alone.

I am a realtor in the Charlotte, NC market, specializing in South Charlotte, Ballantyne and Union County areas.   I too have had first hand experience in the stress and uncertainty of how to pay a mortgage.

My sellers now thank me for avoiding foreclosure!  But if the agent does not handle the short sale correctly, the bank will foreclose.

The short sale market seems to be the “new normal”.  Sellers just have to decide how much money they can bring to closing or permit the bank to approve.  So your credit get ruined for a while, but maybe paying cash and not borrowing money will be better in the long run.  We will get through this; and I bet the standard for credit ratings will be revised.

Last nights show on 60 minutes was very interesting, but it was not “new news” for me.  I see people walk away, but before they do, they strip the house!

I don’t think the banks have the “man power” to re-evaluate  accurately the ability of a homeowner to pay.  I once had a friend say, the bank told her she had a positive cash flow of $13,000.00 left over every month.  My friend was so excited, she asked where it was!  Obviously, the bank was a little misinformed, because if she had money left over every month she would not have filed bankruptcy!

---