The Real Deal Miami

This week in comments

July 16, 2010 03:00PM

My short sale success story  
1. I think the credit question is very relevant and I would like to
know the outcome myself… The question I have is, if the story title
is about “success”, then what was so successful about the experience?
It seems that there are no winners here.

2. I believe people writing about real estate should have personal
experience in it to really understand the dynamics, which in
residential real estate, is usually a hefty dose of emotion. It seems
you made out well — was the bank willing to waive the deficiency
judgment against you for the “short fall” of the loan? The banks are
not willing to do it — and that’s an item you should write about. The
benefits of a short sale versus foreclosure — when it comes to the
deficiency amounts — the home owner loses both ways.

Goldman to pay $550M for mortgage fraud
1. Nice slap on the hand by the government. A few of their top executives (combined) make more than that in a year.
2. Brilliant! They make $6 billion selling toxic securities while
destroying economies worldwide but they net out at $5.4 billion, not a
bad deal! Oh, and they had to suffer through the terrible humiliation
of televised hearings; oh boo hoo, those poor guys!

Do you think landlords should have to give free credit scores to
rejected renters, as a new law nearing passage in Congress would
1. Credit scores should be free in the first place. And the one
freebie the government gives is garbage since it’s the vantage scores
not FICO, which all the banks still use… just another way to take
America’s hard-earned cash.
2. This doesn’t make sense as you can already get a free credit report
every four months (one per year from each of the three agencies). So
why bother with this?