I've been doing Short Sales here in the Palm Springs Valley for many years. 2013 saw a dramatic fall in the numbers of Short Sale and Foreclosed properties come up for sale in all our Valley cities, and 2014 saw the same trend continue. Very good for the general health of our market!
I am currently working on a Short Sale for a Seller that bought at the peak, put an additional $100,000 in upgrades into his home, and now his income has radically dropped! A scenario that seems to be rearing it's head once again.
He has two notes. First is with OCWEN, and second is with REAL TIME SOLUTIONS. I must say that Real time has been very communicative, while OCWEN has very consistently continued to "request just one additional document." Pretty predictable. We listed the property in august, submitted an offer in September, and here we are in December! But...I WILL prevail.
The trick is to KNOW what the situation is with your Seller. KNOW the Lenders and their systems before submission, and be as tenacious as a bulldog with follow up!
If you are finding yourself in a shaky situation on your Palm Springs, California area property, give me a call and I'll stop by and help break down the process for your individual situation. 760-285-3578