I am in California and I have a short sale with US Bank that has a 2nd with a local bank, listed on March 23rd, 2012.
Complete package has been turned in to both banks and file is under review.
Seller received a call from US Bank collection department, she said that he was very kind, but wanted her to make a payment to bring it current (currently 2 months behind) if not with in 60 days they will ask for payment in full. He also told her the property has to be on the market for 6 months before they will accept a short sale??
US Bank is not proactive until you have an offer and then they want a full package and in all my correspondences with them they have never mentioned property to be listed 6 months before accepting a short sale!
Any experience with US Bank, suggestions or advise would be appreciated!
Replies
I have closed MANY US Bank short sales and this is the first I have heard of it. You are correct that they dont want anything until you have an offer and then send a full package, that is how I want it as a listing agent, I dont want the bank setting their price on the home, I want my price to go thru
Not true. I am in Irvine, where their short sale department is located. My short sale with them was normal. There was no listing day restrictions. Once you have a complete package, they will have it assigned. Man, my clients would love the 6 month wait (assuming the NTS doesn't get filed).
Good luck.