[hennie pennie]

>>>> "...the bank will not allow an honest auction of your property, the bank or someone in the bank or someone the banks owes a business favor to, will end up getting the winning bid for your house, or the bank will accept no bids and eventually someone in the bank or some friend of someone in the bank will get the house..." <<<<

I've read that banks are NOT being helpful in the sale of either short sales or foreclosed properties, and that they want to make money..... but I had NO idea that they were using these properties as "favors."

Should Attorney Generals of the states prosecute against such bad practices by the banks?

[SeeSac]

I've read that banks are NOT being helpful in the sale of either short sales or foreclosed properties, and that they want to make money..... but I had NO idea that they were using these properties as "favors."

See my previous post. SL is out to lunch on his advice.

[silverleaf]

It would be almost difficult top prove why the bank accepted one bid over another (wink wink)

Picture this- a bank client who is a builder or general contractor with large loans and lines of credit outstanding tells the bank he can fix up the house and resell it for $XXXXXXXX, and already has a buyer in his pocket ..... and the bank gets its money back on the old loan plus gets the new loan.

His bid is gonna carry some weight