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What has happened to “personal responsibility”? You buy a home, sign a mortgage, then default (“oh my, I can’t make the payments”) and expect to walk away without consequences. Not my fault: “I’m upside down” (a new concept, what about driving a new car off the lot… you’re automatically upside down aren’t you? Lost your job, no savings…. Do what ever you have to do to get a job! A lot of bad decisions made by borrowers. Loan modification? If a borrower can’t pay on the first loan, why do we expect he will pay on the modified loan? The “RE-DEFAULT” rate for modified loans 60 or more days delinquent is almost 50% What has happened to “lender responsibility”? “Liar loans”?, When did the three C’s (Credit, Capacity and Collateral) disappear in the loan process? A lot of bad decisions made by lenders. What has happened to the rule of law? Mortgages are contracts…. Contracts have terms the borrower agrees to by signing on the bottom lime. Borrowers should know what will happen to them if they default. A lot of bad decisions government. Why do people that don’t pay their mortgages “deserve” not to lose their properties? Don’t the investors that lend the money “deserve” to be paid back, “deserve” to have a government that maintains the rule of law. I don’t “deserve” having to pay the bill. 100% Thanks, Chuck Licari, CRB
There are a lot of possible violations of the NAR Code of Ethics in the Short Sale process, often driven by lender instructions, that NAR is willing to skirt around for the sake of business.... i,e: Article 1: Submit ALL offers objectively and as quickly as possible, Article 3:reduction of co-op commission. 100% Thanks