How about a short sale that has gone on now for 2 1/2 years, that is right, 2 1/2 years!   1st is with Wells Fargo, 2nd with SunTrust.

 

We have had 7 approvals from Wells Fargo and zero from SunTrust.  Really, if this goes to foreclosure, they get NOTHING!!!!!!!!!!!!    Why don't they understand this??  UGGG.  Our approval from the 1st pays all outstanding property taxes and gives SunTrust $6,000!!!!!!!  WTH!  Hold this up for a measly two grand.   Disgusted.   When this file is done, whatever way it goes............I am doing some heavy letter writing to everyone under the sun!!! 

 

Wanted to thank everyone for the information on this site.  It has helped me close many short sales and hoping again.   $19,000 original 2nd...............they now owe $8k.   WF is forgiving well over $80k and have advised that they will not extend after this approval letter expires at the end of June.

 

This is our third buyer and this buyer has stuck with us for a 1 1/2 years but she is over it too.   Everything expires at the end of June.   Best part................sellers hired an attorney do handle the short sale and even they can't get anything out of SunTrust! 

 

Any words of wisdom?

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Classic case of - YOU NEED TO GET THE RIGHT PERSON ON THE PHONE!!!!

STOP talking to the people that just read to you from scripts

and

START talking to the people that WRITE the scripts (the decision makers)

Go to the top of the food chain at Suntrust,

Find out who the Investor is on the loan and speak to them.

File formal complaints with the OCC and OTS

Threaten to go to local media and post on Facebook and Twitter (most banks have STANDARD guidelines that if the Seller or agent "threatens to go public" your file will IMMEDIATELY get escalated.

Best of luck, email me if you want to talk - [email protected]

LOTS of things you can do (or email me and we will do it for you....FREE)!!!!

Thanks Ben! I really appreciate the advice.   Unfortunately, the seller's attorney is handling the short sale (rolling my eyes) and I have to defer all decisions to them.  I am kind of hoping the seller will fire their attorney but we shall see.

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