We moved to Colorado from St. Louis, MO, over 1.5 years ago. The St. Louis real estate market had dropped precipitously during the recession and, rather than show any signs of rebound, has only continued to drop. (As evidence, our home was once valued at $285,000. When we moved, we would have been lucky to get $160,000 for it; as of June 2015, it was appraised at $109,000.) Unfortunately, it was no longer feasible or affordable to hold on to our home there so we entered the short sale process with U.S. Bank, which is headquartered in MN.
We began this process in April 2014. We had our first appraisal Sept. 2014 and were told to be ready to list the house within 2 weeks. Since then, U.S. Bank has ducked our calls, ignored our emails, and avoided giving us any information as to when this process would be complete. There was a glimmer of hope when they conducted a second appraisal in June 2015 and, again, we were told to be ready to list. That time has come and gone, and we are still in limbo.
This is an FHA loan, and to our knowledge, what U.S. Bank has been doing is not only extremely negligent, but highly illegal. We thereby request your help in, first, getting this process completed, and second, bringing against U.S. Bank whatever sanctions are possible.