re: Real Estate Question: Haggling a Foreclosure

I know not every house qualifies but the amount that are losses for the banks is smaller than people realize though. It's why the whole bailout was a joke of epic proportions. We were already subsidizing a huge portion of losses the banks took before the bailout even happened then we just gave them billions more.

You can't deny that there is some creative bookkeeping that happens in regard to banks reporting losses on these properties. I have seen it first hand.

You really need to research on the Governments involvement with Bank of America and how they are all intertwined with Safeguard who is the largest asset management firm in the industry. I am not sure how anyone could deny that the banks make more on repos these days than they used to. Some of it even to the point of profits or at the very least break even.

ETA: I am sure you are aware of this but not all properties have to be handed off to a management firm to qualify for reimbursement. Just that many larger banks find it easier than maintaining their own REO division.