Greed at Real Time Resolutions, Inc. is bad business.
I have a HAFA short sale approval from CHASE for my sellers through a special program from the VP at CHASE. This program offers the homeowner a $30,000 incentive to make a fresh start. Sounds to good to be true, but it is true. Here is the letter.
Real Time Resolutions the Jr lien holder has also been offered an incentive of $6,000.00 to release their lien on this home. You would think that this is a sweat deal for all parties and they would look forward to closing this transaction and move on.
Well the Short Sale Analyst at Real Time Resolutions wants the sellers to give up their CHASE incentive and pass it on to them. They will not approve this short sale with the Chase incentive going to the seller. I have pointed out to Real Time Resolutions that this is a HAFA approved short sale and they are being offered the maximum allowed to a Jr lien holder. Also in California the seller is not allowed to contribute any funds to the lender in a short sale ( SB458 ).
Real Time Resolutions countered with and email that they would be forced to close this file or they would now settle for half of the buyers incentive. I again had to point out that the seller can not offer them any funds, it the law. They responded that it is bad business to offer the seller an incentive yet I think it’s bad business to force a foreclosure. Their investor would net a minus $0 instead of the $6,000.00 incentive offered to Real Time Resolutions.
I was also told by the short sales analyst at Real Time Resolution that it did not matter to who I escalated this file to I would receive the same answer.
I think the greed at Real Time Resolutions is bad business, why would they want a home to go to foreclosure and not agree to the terms offered by the U.S. Treasury HAFA program.
It’s my plan to put the power of Google and social media to work for my clients and avoid a foreclosure. If you have a contact at RTR or any helpful info please comment to this post.