Banks, Fannie Mae and Freddie Mac you are ripping the American consumer off. In the last 4 weeks, we have had 4 short sale offers declined by banks. WHY?
I will tell you why. Banks are getting refunds from Freddie Mac and Fannie Mae to cover their losses. When a bank takes a loss of $50,000 the government gives it back to them. Check out this YOU TUBE site and it helps explain http://www.youtube.com/watch?v=ssl5yb7FewA&aia=true
I hopes this link works because it clearly illustrates the banks getting money behind the scenes. Why else are so many short sales being denied? Why are banks not processing offers? I believe it’s a racket and that is why the banks are showing profits.
Spread the word. Lets complain and stop this travesty.
Thanks,
Brian