Is it the job of the Loss Mitigation Department to care about clearing your local RE market?
Or has the Circus come to Town?
No. Is it their job to care about keeping your buyer wiggling on the hook long enough to get papers signed? No. Is a short sale supposed to be a painless alternative to foreclosure for anyone involved? No. There are no painless alternatives. There shouldn’t be. There cannot be.
Next, everyone who is patiently waiting for the bank to approve the short sale must now realize that once the bank says “okay” to the short sale, there very may be a long list of investors who own pieces of this mortgage loan. Each and every investor will have to give their approval for the short sale. We enjoyed many years of growth in the real estate industry and the overall economy thanks to the invention of Residential Mortgage Backed Securities. RMBS made millions of dollars for many people. The downside to securitizing mortgage loans and then selling off slices of each mortgage to different investors is that when it comes time to tell the investor “you’re going to have to take a haircut” that investor gets to have a say in the matter.
Calling loan servicing and yelling at them over the phone will get you nowhere.
I would like to be first to predict that the next meltdown will be loan servicing. But perhaps my prediction is so obvious as to not be much of a prediction at all. How much longer can they sustain this level of stress and pressure, with their current staffing levels, while the banks are facing enormous losses? Of course when that meltdown happens, I predict our government will step in and mandate harsher regulations on servicers, which will be passed on to the consumer in the form of higher interest rates.
Do you want to short sale your property and never pay the bank another penny? I can help you do that.
Call me at (770) 866-2561 for a free consultation. When you call, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can e-mail me at firstname.lastname@example.org.
Discover how other sellers successfully completed a short sale and request a free consultation .
Thinking about a loan modification? Our Suwanee Ga Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender.
Thanks for reading this, Roland Lorans.
Roland is a Real Estate Agent at Better Home and Gardens Real Estate Metro Brokers .
Phone: (770) 866-2561 or 404-843-2500 email@example.com.
View My homes for sale at SaveMyHomeToday.
Roland Lorans specializes in loan modification assistance and short sales in Alpharetta Georgia . Alpharetta Loan Modification Help, Alpharetta Short Sales. Alpharetta Short Sale Realtor. Short Sale Realtor. Alpharetta GA Short Sales. Alpharetta Realtor.
- Ten Dirty Secrets of a Short Sale (stealthmode.com)
- I didn’t get the memo. Did you? (agentgenius.com)
- Short Sale Seminar Sept 2010 Will Provide Answers For Troubled Homeowners (prweb.com)
- Zenta Launches HAFA Compliant Loss Mitigation Program (eon.businesswire.com)