The Sacramento Bee. â€œRuben Ramos, owner of a Marysville real estate office, got attention in real estate circles this week after explaining in Sundayâ€™s Bee how he encourages troubled borrowers to walk away from their homes. His comments â€“ during a real estate round table with three other panelists â€“ went off like a bomb in an industry that constantly tells people to hang in and try to save their homes.â€
â€œâ€˜Itâ€™s not the right thing to do. I wonder if this is what we want taught in our colleges, to defraud lenders,â€™ said retired Sacramento homeowner John Lewis.â€
â€œLeigh Rutledge, a Sacramento real estate agent, said, â€˜There was part of me that thought The Bee shouldnâ€™t have printed it. The other part is that as a Realtor Iâ€™m incensed that this guy â€¦ that this is what people think of us. Itâ€™s not how most Realtors feel.â€™â€
â€œNo apologies, says Ramos. â€˜If people donâ€™t think itâ€™s a reality, they better wake up.â€™â€
â€œTo be fair to Ramos, another dialogue on the topic was edited out for space. He talked about working first with banks to get loan modifications. If the bank is willing, give it a try, he said. If not, leave.
â€˜If I see that the modification only benefits the lender by keeping that borrower on the hook and slamming the door harder in their face two or three years further down the road, Iâ€™m going to be the first one to say, â€˜Walk away.â€™â€