
Realtors favor anything which generates a commission and oppose anything which fails to irrespective of whether or not this is good for buyers, sellers, or the market. For example, realtors recently lobbied against allowing bulk sales of foreclosures to private equity firms. Why? Because those sales eliminate MLS sales which would generate commissions. There is no other reason. When it comes to short sales versus strategic default, I am indifferent. For loan owners who would benefit from reduced debt, either option solves their problems. I recently noted that strategic short sales are the moral alternative to strategic default. Perhaps the moral and ethical considerations matter most to some borrowers. The threat of strategic default is the only leverage a loan…[READ MORE]