I think there may be a problem here…

It struck me today that most bank owned properties are resold with financing and that almost half the foreclosures examined in the SF Audit were void on their face. So…the banks that “Sold” these properties had no right to do so. And the new loans were unsecured debt rather than secured debt. And then most of those loans were resold to fannie and freddie. With Reps and Warranties. Oops. I think there might be a problem here.

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Tom Stone

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Real Estate Agent

(707) 364-2477

StoneForHomes@Gmail.com

Creative Property Services

Sebastapol, CA

DRE #:01479497

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About Tom Stone

I am a Broker Associate with Creative Property services (CPS) in Sebastopol Ca. My father was an Appraiser and expert witness based in Oakland Ca for many years and I grew up having the basics drilled into me. I enjoy what I do and I am good at it. I managed income property in Oakland for a number of years and was licensed to run a collection agency for more than a decade. I have also worked as a credit manager and as the senior collector at the test center of a Bank . I have been commenting for years at "Calculated Risk" and on other Real estate Blogs including the defunct "Sonoma Housing Bubble" Blog. The best job title I ever had was "Chief Garbler". My Email Address is "StoneForHomes@Gmail.com" and my cell # is (707) 364-2477, please don't call before 7 AM or after 8 PM unless we have a deal in progress.


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