Demand that Banks give a FAIR opportunity to all buyers to buy foreclosed homes. Currently they want to work with CASH buyers ONLY, thus prolonging the stabilization of the real estate market. Furthermore, this behaviour has deeper consequences on market value as an "owner occupied" buyer usually will pay more because time is on their side. They are not looking to resell and turn a profit at the expense of the community. ASK THE WHITE HOUSE TO DEMAND BANKS PLAY FAIR AND NOT DISALLOW BUYERS WITH A MORTGAGE!
Why is this important?
Now that properties are affordable for working class people, banks are saying NO to offers that require financing and only working with CASH buyers. MOST people buy with a loan because it takes such a long time to save to buy cash.
This behavior is prolonging the real estate market recovery, supressing values AND allowing the Rich to get Richer.
Why should a hardworking person NOT be able to buy a property if they are willing to buy it and can get a mortgage to buy and fix!
