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Pretty brilliant thoughts from Greg Fischer. I actually remember when, in the 2000 election, blogs jumped to the forefront of information exchange in many ways, completely pissing off the mainstream media. Blogs discredited "news" blessed by Dan Rather about George W Bush's military service, and it was a crisis of credibility for MSM and put egg on CBS's face. The media has adopted the Interwebs, but all it has done is perpetuate McJournalism to put out content, and in the realm of real estate much of that copy is horsesh*t. https://medium.com/i-m-h-o/a3822eb3e210
Michael I was referring to murder. I don't need to witness it to know the consequences. Assignment of mortgage has to be done with the consent and cooperation of the note holder here in NY. What Gina is describing would be assuming a loan here, and unless it is an assumable loan, no lawyer will transfer title without the old liens being cleared here. Otherwise, the acceleration clause is triggered. We can argue over the commons sense of why the bank wouldn't just take the money and not make waves, but applying walking around the street common sense to banks is futile.
It will never change. Even when the market was crazy hot 6-8 years ago (has it been that long?), local contracts mandated that buyers come up with the difference if a home under appraised because prices were spiking so fast.
While I am not a proponent of pocket listings, and I agree with Leslie that people typically take positions that are beneficial to their business model, I think it is insanely arrogant anyone to determine what the best strategy and maximum benefit would be for a seller without having all of the seller's specific information. But then again I've never been smart enough to raise venture capital to operate my company - I've always had to do it by actually being profitable.