I believe it’s healthy to take a step outside and perhaps even laugh at ourselves so as not to be caught up in our own pride. Let’s face it; we are where we are. It’s time to fess up, identify it, and move forward.
Citigroup’s expected to announce a $24 Billion write down this week for the fourth quarter and Merrill Lynch, $15 Billion. They’re both running around trying to raise some cash and these losses are largely mortgage related. My question is: what about the home values, circumstances, and predicament for the individual homeowners? Are they quick to fess up?
As the owner of a mortgage company in Florida and taking a lead role in bringing healing back in the marketplace, I’m confronted with this issue daily. So, please don’t misjudge this post. It’s a serious issue. Nevertheless, I’m compelled to take a step outside and laugh at the insanity of the situation to help keep my sanity and boost the morale of my cohorts.
I don’t know how many of you remember the comedian Jeff Foxworthy and his “you might be a redneck” one-liners. They all go something like this:
“If your working television sits on top of your non-working television, you might be a redneck.”
Now for my version of “you might be a short sale.”
“If your mortgage balance is here” (raises hand up high) “and your property value is here” (lowers hand) “you might be a short sale.”
“If you work at Burger King and live in the Taj Mahal, you might be a short sale.”
“If you tap your left front pocket and say ‘checking’ and tap your right front pocket and say ‘savings’, you might be a short sale.”
“If you pay your mortgage payment with your credit card, you might be a short sale.”
Posted by Paul - Florida Short Sales
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