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Just closed a short sale with DMI Corp

Posted by Jeff Payne on January 26, 2012 at 9:26am in Short Sale Discussions

Just closed on with DMI corporation

Longest short sale that I had in the last 18 months at just under 6 months for approval.   I started to get the feeling that this was the first short sale that DMI Corp had done or the negotiators were very green.   In the end we got the job done and the seller (investor) is very happy and the buyer is very happy and is getting licensed and will be joining my team very soon!

Happy ending to a LOOOOOONGGGG story :)

BTW, this was part of an FDIC deal with Hancock Bank

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Replies

  • Jeff Payne January 27, 2012 at 2:31am
    It was a comedy of errors. This one was even covered in a loss share agreement with FDIC. I spoke regularly with the bank that hired them and this transaction will lead to DMI losing that lender business. They killed my averages for approval times:). Fortunately he tenant was the purchaser so they were patient.
  • Joseph Alfe January 26, 2012 at 5:45pm

    DMI offices are just down the street.  They are horrible, and I Actually went down there personally and demanded to speak with a manager.  We eventually closed but they are clueless.

    www.ssprocessors.com

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