Tags:
TO ALL,
It is TOTAL BS that they require late payments.
THE ONLY REASON SERVICERS (who your client writes his/her check to each month) DO THAT IS BECAUSE THEY MAKE MORE MONEY SERVICING NON-PERFORMING NOTES (where Sellers are late)!!!!
This BS sure gets irritating.......
Servicerrs are paid by the Investor to "service" notes, handle escrows, send statemetns, harass clients when payments are late, etc. Typically, servicing fees collected when payments are on time -- 1/4 point annually.
Want to know how much Servicers like Chase, B of A, etc., make servicing "non-performing" notes (when payments are late)
1/2 point annually....yep, they make TWICE AS MUCH CASHOLA WHEN YOUR CLIENT IS LATE. If your client starts missing payments, the Servicer, Chase in this case, makes twice as much money.....
Want to call them out on it, try these 2 responses:
1) "Really, my Seller needs to be late.....THAT IS AWESOME!!! So you Mr. Negotiator are telling me my Seller can quit paying you guys, and, live in the home FOR FREE while I complete this short sale.....________(Seller) is going to be so happy..."
Then SHUT UP and watch how they squirm and try to respond.....this works for ALL short sale negotiations....get your negotiator OFF of the script he is reading to you from and you OWN HIM!!!!
or, try this:
2) "....so you are telling me the Investor on this requires my client to RUIN his/her credit before they will help.....send me that in writing so I can show the attorney we are working with and we will inform the Seller......"
Then again, SHUT UP and listen to them squirm.
Guys, push back....Git R' Done!!!!!!
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