The Foreclosure Solution

Posted April 4th, 2008 by Joe Kaiser

Had you been paying attention, you'd have noticed the answer was at your fingertips all along.

Dear Rob,

You’ve missed the target, and not by a small margin.

Your “the first thing we do is kill all the investors” approach to solving the foreclosure crisis was the wrong path to take.

Rather than remove investors from the marketplace, the better solution would have been to do whatever you could to encourage their participation.

You’ve decided investors are the problem.

Investors, it turns out, are the solution you’ve been looking for.


Well done

We’ve been here all along, ready, willing and able to write the checks that stop foreclosure and keep homeowners out of trouble. We can’t save every home, of course, and we have to make a profit on each dollar we invest, but those things shouldn’t come as a surprise.

Profit, as mentioned before, isn’t evidence of a scam. More likely, it’s evidence of a job well done.

It is a business after all, and there’s absolutely nothing wrong with being in the business of foreclosure real estate investing.


Kill Bill

Your office authored new laws that remove us from the foreclosure business and force homeowners at risk of losing their homes to go it alone.

Not only haven’t you encouraged our participation, you’ve banned us from the premises, and nothing could be more foolish.

Had you been paying attention, you’d have noticed the answer you were looking for was at your fingertips.

Instead, you’ve bungled things so badly that the foreclosure rate in this state will likely reach levels we’ve never imagined. And, like Minnesota, things will snowball from there.

What might have been a relatively minor problem will gain momentum and without the brakes we investors normally apply to slow it down, there will be no stopping it.


The fix is in

It’s a simple risk/reward proposition.

Investors were the solution all along, and all you had to do to fix our foreclosure crisis was to figure out a way to make it less risky or more profitable for us to participate. We’d have jumped in there and got it done, no doubt about it.

Instead, you created new laws to make certain we could not earn a nickel, as if getting paid to provide an extraordinary service was somehow unfair or taking undue advantage of the situation.

Your basic premise is flawed.

Investors aren’t the problem . . . they’re the solution.

And you couldn’t possibly have gotten this thing any more screwed up if you tried.

In the arena,

Joe Kaiser


One Response to: “The Foreclosure Solution”

  1. Jason responds:
    Posted: April 4th, 2008 at 11:48 am

    Joe,
    This is what happens when the Gov’t wants to play God!.
    They feel they know everything including, but not limited to, what is best for everyone else in society.

    Step away for a sec and look at this scenario……

    Imagine that the NFL were to be taken over by the Government.

    The Comp Commitee would filled with people from the Professional Cotton Knitters Association.

    The rules being made would come from people who know nothing about football.

    I ask, “will this help or hurt the game?”

    You decide if a bunch of folks that have never even played the game should decide if what type of blocks should or shouldn’t be allowed.

    The One change I guarantee would come from the Comp Commitee filled with people from the Professional Cotton Knitters Association is………..

    All uniforms are to be constructed of a cotton knit material!

    In the stands,
    Jason


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