Lenders need to stop crying Wolf when it comes to the Foreclosure Market!

Everybody,loves a cash offer, right? Buyer`s who make reasonable offers on a Foreclosure,who wish to close in less than 30 days should be acknowledged, or at least you`d hope.

FRANIE MAE better do something quick in order to curtail what many lenders are still doing. Pure and simple NEGLIGENCE is still rampant with the lenders who continue to "Cry Wolf"that they`ve been burnt by the public! It`s not true! Pure Fiction.... 

Many of these lenders can stop the bleeding in the Short Sale and Foreclosure market if they actually had a system in place for offers which arrive daily on their desks!

It`s inexcusable when a lender receives and offer on August 29Th for a home, only to close the file on Sept. 3rd, claiming they never received our offer,even after it`s proven to them ,they acknowledged the emails which were sent to them!

Hard to grasp when an offer arrives, you don`t "POST IT" somewhere so the folks who work these files can match the paper work to their files!

Without any system in place the lenders are surlily making it difficult for themselves to start "ACCEPTING OFFERS IN A TIMELY MANNER", with almost two years of experiencing the Foreclosure and Short Sale" glitch, it`s hard to believe the lenders haven`t yet learned to streamline this process.

What the Government needs to do prior to loaning these lenders additional monies is to investigate how these lenders receive offers from the general public!

They should insist on having a moratorium and have a huge "Clearance Sale" on properties which have remained on the books for 9 months or more!

It`s hard to estimate how many homes would be sold had the lenders had a system in place where the entire procedure would actually take 30 days or less to complete. Frannie Mae should demand some sort of accountability before moving forward and demand that these lenders "Get Serious" when accepting an offer.

Back to our buyer.After 4 hours of bickering back and forth the lenders finally admit they goofed,but since they`ve closed the file already they would need an additional 45 days to close.

Is it any wonder the buyers are "Walking Away" from these "Properties" in droves?

I hope by 2009 many of the procedures we`re seeing today are abolished.Otherwise no matter what Uncle Sam does won`t really matter....