FSBO Jane

This recent article at BiggerPockets puts the whole bailout situation in a new light, and I highly recommend checking it out. If you’ve wondered what the bailout means for foreclosures and what real estate investors are thinking now, and if you want to hear it in plain English, go take a look.

(The article was written by Tom Koziol, author of http://www.homeforeclosureprofits.com/hfp.html.)

Here’s a clip:

“The [bailout] bill has made the big boys whole and left the little guys holding the bag.

The big boys can now give their loans to the government and walk away. They never have to concern themselves with short sales, loan modifications or workouts. If a homeowner is in trouble, so be it. They do not have one iota of incentive to work with him or her.

I can no longer work with the homeowner because the lender won’t talk to me. Oh, they’ll talk to me but only to tell me to have the homeowner fill out a handful of meaningless forms and submit them for review.”