By Todd Clark (Broker/Sales Coach) 503-524-9494
I’m about one week from
closing
on a home that is in
foreclosure and the loan that is in foreclosure is a VA loan.
The bank that is
foreclosing is about 2 months away from foreclosing on this property,
yet I
still got a call today from a VA appraiser wondering if there was a
lockbox on
the property so they could do an appraisal on the property.
I had to ask, why are we spending
tax payer money ordering
an appraisal on a property that was less than a week away from closing?
I could
understand if it had passed the date it was supposed to close and they
thought
that they may have to foreclose, but that isn’t the situation here.
So, my question is, how
do you stop the banks from doing stupid things like
spending our money on things that aren’t needed, like a
tax payer paid
appraisal on a VA loan that won’t matter in a week and probably won’t
even be
back to the bank before we close?
Todd Clark - Broker / Sales Coach
All Brokers Real Estate
Phone: (503)524-9494
Fax: (503)622-8739
Tigard Oregon Homes for Sale, Tigard OR homes for sale, homes for sale in zip code, 97223,97224, Tigard Oregon Realtor, Tigard OR Realtor, Tigard Oregon MLS Search, Tigard OR MLS Search, 1st time home buying expert, short sale expert, avoiding foreclosure in Tigard, helping families home, LivingBeaverton, Townhomes for sale, home for sale, house for sale, Bull Mountain North, Bull Mountain South, King City, Mountainview, Greenburg, Summer Lake Neighborhood, Summerfield neighborhood, Tigard neighborhood, Walnut Grove Neighborhood. Tigard Oregon Real Estate, Tigard OR real estate, Todd Clark, (503)524-9494, WWW.LivingTigard.com, www.IFoundYourNewHome.com, www.SavingyouFromForeclosure.com
©2010 Todd Clark - Originally posted at Don’t spend my money when you don’t have too!
Hello:
There is nothing we can do to make the government less foolish with our money.
Todd,
I do not know how to stop anyone from doing stupid things to spend our tax money. Then they will need more and more.
Todd - The challenge for the VA may be, what if it doesn't close and they have to foreclose, if they don't have an appraisal, their asset may be delayed in coming on the market even longer (ask some of those lenders that delayed foreclosing thinking the seller was going to go through with a short sale and then didn't.) If it is delayed coming on the market, how much more of our taxpayer dollars might that cost. Now, I'm not saying that is the case...I'm just saying it may be a possibility.
Todd - you ask how we can stop the banks from doing stupid things.
I guess my take is that when they get tax dollars to cover their losses, they have no incentive to "get smart."
Consider it part of the greater economy that is giving the appraiser a job.
Hi Todd, You assume Government and common sense have anything in common. It would be nice if things really worked this way.
The banks. The government. Running a competition to see who can screw things up the most.
red tape...one hand not watching the other
Good question Todd. I have wondered about this also. How about some class action law suits. But then, it will only be the lawyers making money and we'll pay for it also.
Todd..they are so busy they don't know what is up or down. There is a lot of money wasted but the big machine just keeps on moving...
They are just trying to follow protocol...just because you know you are closing...doesn't mean they can be sure you are closing.
There's so much waste it's sickening. Thanks for blowing the whistle on this one.
I agree....I have had some "dumb things" happen with banks, especially on short sales recently....
Thanks for ruining my day! VA appraisers? Don't get me started!
Todd, remember common sense isn't so common anymore. It should be called uncommon sense.
Sadly, the government is not the most efficient entity doing business out there!.
If we ran our businesses like they do, we'd be unemployed in no time!
Hmmmm ... remove the lockbox??
Cynthia - Though I like your idea, I'm afraid then they will just charge to have the locks changed also. I am noticing a theme here though, the government doesn't get it.
Todd have you ever heard the right hand doesn't know what the left hand is doing?
Couldn't you just stall the appraiser for a week until your buyers are the owners and they control the property. I know your question relates to the concept rather than the individual situation but we can each conserve one property at a time. It is like recycling...one person doesn't matter but if we all do it we can mad a difference.
Todd - You are absolutely right "the government doesn't get it."
Todd, well, don't know what to think about this one. Hope it settles on your watch!
Sounds pretty stupid to me.