patrick.net

SoCal Renter says

I’m reaching out to reporters to see if I can get any local papers to pick up our story. The latest - the banking person needed to finalize was (and still is) on vacation… so nothing was done. Times up! Thanks for playing.
Now I have to decide if I want to find someone to front me the cash to buy this house on the courthouse steps in three months, buy something else, or wait longer. Too bad Uncle Sugar’s $8k is setting to time out December 1st.
SoCal RENTER lives on!

If you counted on $8k tax break - don't worry. NAR will be lobbying hard to extend and likely increase the tax credit amount. The unsuccessful attempt to buy the house could work out in your favor.

@SoCal,
I too have had the same short-sale run-around game played on me and would be happy to foreward to you my 6 months of emails between me and the REbadperson so you could see just how similar our experiences are. Even the vacationing assett manager. I feel the whole thing was done by the REbadperson to gain the non-buyer the ability to squat a few more rent-free months. I say this because the listing went out right before the first NOD went out in Feb .. and no activity again until the next series of NOD's went out in June. That tells me that the REbadperson was just using me to stall the forclosure process. Atleast, that was/is how it felt.

RE: vacationing assett manager: I was told last week by an honest-er REgoodperson that there is no assett manager for any home before it is REO. My REgoodperson said that before a home is foreclosed and REO you will just get a bank worker in a particular loan department with each call into the bank, and it is rare that you will ever get the same person to answer twice. Any loan/bank/REpro people out there in Pat-land that can clarify?

@Bap33 - My realtor has been frustrated because the bank has a specific negotiator to work out short sales. That was (supposedly) the one difference with this Short Sale and this bank.

We have tried one last ditch effort with the lawyers so fingers crossed ...

In any event, I've gotten responses from local reporters regarding our story. Tomorrow I'm going to be calling my Congressman all day. The bank has not heard the last of me!

SoCal:
If not this house, the next one will be just as right. I have some new neighbors who offered and lost the bid. Then the bank contacted them, asked to resubmit; they lowered the bid. Bank refused... and so on. They were pissy (the bank), so the buyers actually told them that they'd be dropping the price $1,000 per day of any further delay.

They got the house for $10k less than their original lowest offer.

Good luck!

Which bank was it?

Lawyers to the rescue?

The deal is BACK ON! More updates as this wild ride continues...

Blast from the past: We thought this was dead a month ago.

Bank finally sent us a written offer. Someone at the bank finally cruched the numbers and figured out that the loss sellling to us was less than the loss fighting a bankrupt man in court.

We will take a look at it again. What to do, what to do? The Realtor is concerned it will no longer make appraisal since prices in the area have fallen so much since our original offer.

Offer 100K less and tell them to take it or leave it

Yup time to lowball.
If now was a good time to buy, then you would have a)bought the house, b)they would have sold it.

I'm waiting until a deal is a phucking deal again.

I have no patients for Ida the Indian giver, and Rene the reneger.
Those two seem to be the only ones left employed at the bank and the RE office.