For those that saw us on the short sale cruise in February – YOU ALREADY KNOW!!!

For those agents that are currently making better use of their time and letting us process your short sales – YOU ALREADY KNOW!!!

FINALLY you can get what you are worth!!!

Short sales are can take dozens of hours to complete and some banks finally are admitting THEY LOSE MORE MONEY when they have to foreclose!!!!

In our first monthly newsletter -  …

Servicer - Wells Fargo

Investor - Freddie Mac

Mortgage Insurer - NONE

We received this in Equator this morning, apparently:

Equator Message:

Offer in Review The Investor is requiring a net of $242,000 based on the deliquency of this file. Discuss with the buyer how they would like to reach the net requested. Due to the fact that the borrower is current on the mortgage, the minimum net proceeds (mnp) is substantially higher than a property…

B of A HELOC is DEMANDING that the Buyer pay for and SEND THEM an appraisal.

Without this, he will close the file.
My negotiator actually told me to FIND A NEW BUYER, one that will pay for and SEND THEM an appraisal?????!!!!

Are you Serious!!!!
I have escalation contacts....but this is just ABSURD!!!!

WHY WOULD ANY BUYER PAY FOR AN APPRAISAL FOR THE BANK BEFORE GETTING AN APPROVAL LETTER!!!

DUMB DUMB DUMB (kindest words I could find)

We have been helping agents all over the country process their short sales and THIS IS A NEW SITUATION:

We were working with a smaller bank and THEY ACTUALLY ASKED US TO HELP THEM WRITE THEIR APPROVAL LETTER!!!

Yep, first short sale the bank had ever done.

They asked us what documents they needed to see, and, asked us to send them a copy of an approval letter from another bank so they could see what it looked like.  The short sale was quickly approved…