A tune for Phoenix homeowners: "Short-Sale Foreclosure Blues"
T he housing market has prompted many laments. Realty Executives Chairman Rich Rector put the woes of many homeowners to music. He sang the song “Short-Sale Foreclosure Blues” at one of his brokerage’s recent meetings.
”Bought at the top in 2005.
Life was great, beginning to thrive.
Then, whoa, things took a major dive.
Got those short sale, foreclosure, repo blues.
Behind on my payments, Market done tanked.
Prices have fallen, zilch in the bank.
Went to my lender and drew a blank.
Got those short sale, foreclosure, repo blues.
If I could have, I would have paid.
If I could have, I would have stayed.
I’ve been Fannie’d and Freddie’d …
