National Bank of Arizona

Has anyone received an approval for a short sale with NB-AZ? I am currently working on a vacant lot where NB-AZ is the only lnder. NB-AZ is slashing the commission which they say they do on all of their short sales because "the Agent has to share the loss along with everyone else" - HA !

Any succesess out there?

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Permalink Reply by Thom Colby CA Brkr 888-391-5245 on January 3, 2011 at 5:34am

LOL - The conversation was very interesting. They were adament that the agent needed to share in the loss the bank is taking - unreal - we are trying to get these properties off their books at the best possible price and they smack us in the head. NB-AZ is very unlike Wachovia (Wells), where they are offering a 1% bonus commission (total 7%) if you can get the property closed by 2/28/2011.

Thanks for the reply, I needed a chuckle this morning.

Harry Clay said:

"the Agent has to share the loss along with everyone else" - HA !

Fess up Thom...wasn't it YOU who talked them into offering Option / ARM / NINJA loans on land with no water, in the first place?

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