Tragedy…this home could have been saved only if…
This is the final chapter in a painful story of a Short Sale gone bad.
The “Bankruptcy Negotiator II”, Ryan Bickerton with American Home Mortgage Servicing Inc(AHMSI), refused to accept a short sale purchase agreement offer of $264,000. AHMSI’s supporting appraisal completed 3 months prior was there basis. In our current market…3 months is a lifetime. With home prices dropping at a rate of 3-6% per month, our offer would be in-line with the market at close of escrow.
2 months later the property is back on the market advertised as a “Bank Owned Property”, MLS# i08151962, listed price is $245,000. Go figure!
Mr. Bickerton is the systemic problem with our banking industry. Mr. Bickerton is a “pulse” filling a position that requires intellect and experience to make fiscal decisions that affect investor’s fiduciary interests. His superiors should be held responsible for placing him in a role that he is clearly not fit to handle.
American Home Mortgage Servicing Inc is a small warehouse that services loans. They should be held responsible for their “contribution” to the demise of this nation’s current economic state. Place their leadership on trial for their negligence. This may seem harsh; however, they are the problem!
I am on a soapbox with this message; however, if we don’t hold these decision makers responsible, they will plague us for years to come. The government will, no doubt, come to their or their affiliates rescue at some point and our hard earned tax dollars will bail them out.
