The Current Bank’s Tactics

So here we are. Probably roughly two years in to the sky rocket of short sales and we see just another tactic from the bank to kick us all who are involved in short sales. Short sales are becoming more and more difficult because they are becoming more and more common. If you would have asked a group of real estate agents a year ago what a short sale was the majority wouldn’t know what you are talking about. Now a days the words short sale come up more regularly than closed deal.

So what are the banks doing? Well the have employed several methods to try and save their behinds. The newest one? A bank, that will go nameless for now, has set up a triage group to I guess weed out the bad short sale contracts. The low ball offers we like to call them.

What is this group actually doing? They are plugging information into a computer to calculate rough numbers on which they are basing someone’s future on. Thats right! They are flat out declining short sales before a short sale negotiator is assigned, before a BPO is done, and before you even talk to the short sale department. They are doing all this just on some rough numbers a computer spit out to them. Kind of harsh don’t you think? I surely do. Thanks for reading and come back soon.

- – Jeff Buettner
Real Estate Wiz Kid

I just can’t make payments on my Scottsdale home anymore !