Every newspaper seems to be headlining with the Failing Banks!
So, Julie and I decided to check to see if our banks were on this FDIC Watch list.
In case you don’t know what the ‘Watch List’ is..think of it as the list of banks the government thinks will fail.
Guess what, finding the list of banks on the list is nearly impossible. The FDIC doesn’t publish their list!
I read that the FDIC is not releasing the list because they are trying to avoid panic and a ‘rush on the banks’ for people to withdraw their money. After all, if the bank fails your deposits/ savings are insured to up to $100,000. If the bail out passes that amount will increase to $250,000.
From a real estate perspective, I want to know which banks are on the ‘Watch Lists’ for the sake of real estate clients. For example, you certainly wouldn’t want to refer a buyer to a lender for financing if the bank is going to fail.
Here is the list. FDIC Bank Watch List (03.08)
Tags: bank owned homes, bank owned properties, bank watch list, BPO, FDIC bank watch list, fdic watch list, real estate owned by banks, real estate training, realtor coaching
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