Artificial Problems

I hate the fact that it seems like there isn't enough regulation for housing. Recently I put down an offer on a house on short sale. Just an FYI the term "short sale" is anything but short in duration. Short sale refers to the agreement made between the bank and the home owner to sell the house at a lower price than what the mortgage is worth currently. Leaving the owner and bank shorted on price.

I put this offer on and 3 months later they deny the owner sale because she is current on her payments and not delinquent. They figure they could get more money out of her if she sold it at a higher price. Assholes. This poor lady is ill and just wants to get out of this house so she can focus on her health. So because the owner was doing the right thing, being current on her payments and not falling into delinquency she is being punished. This is disgusting. If I was that woman I would become delinquent to spite them.

This brings me to my next point. This is an artificial problem constructed by this bank. This bank should be held legally liable for causing a home owner major financial ruin because they wouldn't comply with selling the house. This is not moral or just, they are being money grubbing whores.

I don't understand how or why it is okay for banks to setup these artificial disasters. Here is a simple scenario:

Someone buys a house for 300K at a high interest rate

They pay for 20 years

They become distressed due to illness or job loss

They ask the bank to simply reduce the interest rate the is now available to everyone else because they will not be able to continue paying otherwise

The bank refuses

The home owner goes into foreclosure

Who's fault is it? As far as I can tell it is the bank's fault because they refused to negotiate. They could have avoided this, but they didn't. They created the interest rate to begin with, they aren't losing anything if they lower it. Their bottom line won't be as big, but that shouldn't matter. The point is now someone is in foreclosure and it could have gracefully been avoided.

Good job assholes. Keep up the good work.

This scenario only applies when it is the bank who owns the house originally. Otherwise it is an actual huge financial loss for the bank which is then understandable. However they should still see if their interest collection superseded the principal. Stop being assholes and start being human.

Business people always look at the bottom line which I think explains why so many business people are republicans. Republicans only care about themselves and their money. My Cuban boss from an older job is a a republican and he said and I quote "I will vote for whoever doesn't raise taxes." Which is a stupid thing to say first off and secondly greedy. Greedy because this son of bitch was making about 150K a year and his wife was pulling in 250K a year and he doesn't want to give any back to the community that made him this rich? Selfish asshole would rather vote for rat bastards who fuck the guy who already has nothing instead of giving a small percentage of his huge yearly profits.

Mother fucker. People like him and the people who think like him are scum and I hope they get cancer so they feel pain and die a slow death.