Why don’t we do something about the short sale crisis?

Editor,
 
I will keep this short and to the point.
 
I cannot understand why FAR, NAR and all parties in between are not screaming and shouting to every legislature and news organization to uncover the critical situation in which the real estate and title industries find themselves.
 
THERE IS A SHORT SALE CRISIS!
 
Will it take a majority of title companies shutting down due to lack of revenue? More unemployed hardworking people, who have done their job, sometimes numerous times, but their firm doesn't get paid until a file closes? And who controls this process? The bank. Who is suffering? The working class people at the banks. Not the executives! They are averaging $14 million per year in compensation!
 
I am just sick of it. I have had files with these banks for over five months. I have marketed the property, secured multiple fair value, cash buyers, and submitted the necessary paperwork to the bank – only to have the bank continually say nothing, do nothing.
 
The local Realtor associations will be the next to feel this as their memberships dwindle. This of course hurts FAR and NAR.
 
Just today, one of the short sale file coordinators in our office had a conversation with a rep at the bank and the rep commented that he has over 470 short sale files! They were also expecting over 19,000 more files in the next month to be split between their 450 people – that is another 42 files per person.
 
We should be mobilizing and making waves to make the powers in Tallahassee and Washington take note that we are being duped once again.
 
I would be happy to do anything I can to help. I don’t want to just complain. I want to take action and help solve the problem.
 
Mark Dubin
Bluffs Real Estate and Investment Properties
Jupiter