Everyone should love this short sale story =)
So I am negotiating on a short sale with the bank First Horizon. I have only had a few short sales with them but their routine seems to be similar to the others. Anyways, after I sent in the short sale paperwork I made a few phone calls to their loss mitigation department in which the hold time exceeded a hour every time. Eventually I was able to get the short sale negotiators extension. I have called the short sale negotiator at least three times a week for the past month. Everytime I call I get Jane Doe is at lunch, Jane Doe is at break, Jane Doe is at home. Every single time. EVERY TIME!!!!! It has gotten past the point of frustrating. Now everytime I call, I know what to expect and just laugh. It is so ridulous, I have gotten one voicemail returned. Lucky for me, i have a few contacts at most banks. I was able to get a hold of another short sale negotiator who sits next Jane Doe and now I am able to get updates from her.
Who else has short sale negotiator nightmare stories?
Thanks for reading.
- Jeff Buettner
Real Estate Wiz Kid
Who is experienced with Phoenix real estate?
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November 11th, 2008 at 6:01 pm
like your blog about real estate..
and topic about short sales.
talk soon
Thomas
November 11th, 2008 at 8:05 pm
I’m working short sale now, I hired a loss
mitigation negotiator. We have him assign a lien
for his services and has a better negotiation
position. Put in MLS split with buyer agent.
I do not want to be on hold for and hours.
November 12th, 2008 at 2:11 pm
I currently am working on a short sale that was wrote in July. It’s been a nightmare. I’m representing the buyer, and there has been good communication between the bank. At first the second said OK and the first needed to do some leg work. Well now the first has said OK, but the second is giving us problems. Short sales can be easy, but each bank is different. And some short sales aren’t meant to happen.
November 14th, 2008 at 7:10 pm
How about when the loss negotiator assigned to the case just quits right after bank approval and you have to wait a couple of weeks for the new one to catch up??