Delay a short sale on the cheap, or get it done today
After ten months of of the Home Affordable Mortgage Plan, or HAMP, the rules for applying for a mortgage short sale now duplicate the mortgage modification process. We all hope it speeds up the notoriously slow short sale process. One glaring fact remains however. Whether a mortgage modification or a short sale, the chances of a distressed homeowner obtaining a timely and beneficial mortgage solution are slim and none without professional assistance.
The banks, in their infinite wisdom, have calculated that they make more money on any given foreclosure. Unless a professional negotiator takes control and proves the value of a short sale to your lender, that is the path the lender will take. There is no reason for them to delay the process except for conjured up financials on their part.
They don’t lose new home purchase documents. Why do you suppose they can’t find mortgage modification or short sale documents?
When I had my homework completed on time in school, I had no problem turning it in. When I didn’t have it, I spent the 35 minutes on the bus to school conjuring up some other good excuse other than my non-existent pet dog to blame it on. Before I had my driver’s license, I couldn’t use the old flat-tire excuse that the older kids used.
A professional mortgage modification expert firm like the one I represent will catch your lender in every lie they tell. It’s fun to hear my mortgage modification expert say, “I have a receipt right here, I know you have it. Put me on hold while you go find it. I’ve got 15 other files right here. I also have all day.”
Basically my short sale negotiator has the same remedy. The difference is that in a short sale, we offer a cash price for the short sale property. This plus experience in short sale negotiating is what gets immediate results for our short sale negotiations.
Today I read yet another story about a qualified prospective homeowner attempting to buy a short sale property. Every piece is in place, except an expert negotiator that can force the lenders to behave and perform.
The wanna-be homebuyer has been waiting for ten months. There is no information on the seller. My investor and negotiator would have consumated a double close in less than sixty days. These poor souls would have been in their home for eight months now. Someone in this transaction is being greedy. The distressed seller, the listing real estate agent, the new homebuyer, the lenders, or the buyer’s real estate agent. Is there money involved with an intermediary investor such as the the one I represent? Yes, there is. But for these concerned parties, There are only two reasons or excuses: either everyone concerned doesn’t know that an investor could expedite the transaction, or they’re greedy. Take your pick.
Read it here
