Dear Mr. Banker a Metro Detroit short sale story

Dear Mr. Banker,

I tried to help my client buy your Northville home thru a short sale.  I would call the listing agent every other week to get a status.  But you sat on the offer until it was a day before your bankforeclosed on it.  It was a good offer and you okayed the offered but said we had to close it in one day.  You did not even have title work on it after 4 months.  So it was impossible to close.

Then the Northville home then became a Northville foreclosure.  Mr. Banker we then waited for 4 months for the Northville home to come on the market but it never has.  I checked our local MLS for the home to show up but it never did.  My clients would drive by the home every few weeks to check for a for sale sign.  But there never was one.

They drove by the house the other day.  It is now December and 20 degrees out.  You must not of know from your office in California that Michigan foreclosures need winterizing.  You want to save the bank money and not turn the heat on.  You are really saving the bank money by not heating it and not winterizing it.  When my clients drove by last week there were icicles hanging off the bottom of the bay window.  There was water running down the side of the house and down the stairs.  The water was actually running out of the window.

The water pipes froze and now the Northville foreclosure has major water damage.  Who knows how long the water has been running?  But I bet it has been a long time to get those big icicles.  I can’t wait for your bank to see the water bill.  Now that the Northville home has water damage my clients no longer want it .  I will bet you will lose over $150,000 on this forclosure due to your slow  and inadquete response time and poor system.

So I wish you the best of luck selling this Northville MI home.  I am sure you will not disclose that the house has water damage.  I am sure you won’t tell the next buyers that the water pipes may be stressed and have future problems.  I am sure that you will protect you and your bank from being sued by having the next buyer sign a mold release form.

You took our taxpayer money but you don’t give the common buyer any type of common courtesy.  It almost borders on unethical just because the law doesn’t make you disclose the problems you caused, doesn’t make it right.  Some buyer will buy that Northville home and will be unaware of the full scope of the water damage.  You may even hire somebody to mop the water up or tear out the soaked carpeting.  Some poor kid might get sick because of the mold.  But you don’t care.  You are within the law and have protected the bank.

That’s our bailout money at work.  Protecting the wrong people.  It’s a shame that you don’t care about common ethics.  Maybe that is what got you in this predicament in the first place.

Sincerely,

Russ Ravary

 

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