Most of you that follow my blogs know that I love doing real estate and have focused most of my energies over the past few years doing short sales.  What really gets to me more than anything is when; as an agent, I contact the lender over and over again, send them everything they need (most of the time, many times to many different fax numbers and addresses), and deal with their red-tape bureaucracy just to save my client from foreclosure, and then they LIE about me even being in contact with them. What is that all about?

Lately, I have seen it more and more. Borrowers (sellers), contacting the lender out of sheer frustration that nothing is getting done or not moving fast enough and the lender flat out lies to them and tells them something like one of these;

• We've not heard from your Realtor and have nothing on file.
• We tried to contact your Realtor, but they never got back to us.
• We've closed that file a while ago because the authorization was not correct.

I've even had one lender tell my seller that we the agency they hired (our company) is no longer in business! WHAT!!?

Listen, I really don't care what they say to me, I'm used to it! They lie to me all the time about deals I am doing with them, but to bold face LIE "about me" and or the integrity of my staff, I must draw the line there! We as short sale Realtors break our asses to get these things done for both the benefit of our sellers and YOU, the lender. So why do that to us?

I really have no other comments other than STOP IT!

 
Post is included in group: Short Sale Support Group
Post is included in group: Short Sales Specialists
Post is included in group: Short Sale REALTORSĀ®
Post is included in group: Sharing Information of Short Sales
Post is included in group: Foreclosures & Short Sales

6 Comments on LENDERS: Why Lie? We're here to help you also!

MAY
04
117,701 Points 3 Featured Posts

It is hard to find a good lender, I have a couple that I can count on. I have had some problems in the past with some lenders. 

2:37pm • #1
168,018 Points 6 Featured Posts Outside Blog

I agree with Elaine. I am continually surprised by the quality of the lenders in my area. I'm sorry for your frustration, but know that I am right there with you (if that is any consolation).

2:40pm • #2
1 Featured Post

I agree. Local lenders are great to work with.  Of course this post is about the BIG guys in the industry.

2:57pm • #3
160,820 Points 9 Featured Posts Outside Blog

Frank - "We cannot find your authorization. When did you send it?" I hear that EVERY DAY!  Some we have re-faxed five times.  Short sale packages are not received!! If you, Gd forbid, send a short sale package to an LOA number, they will THROW it out!  Can you imagine running your own company like that?  You would be OUT OF BUSINESS!  I, too, am sick of it!

6:51pm • #4
MAY
05
5 Featured Posts Localism Sponsor Outside Blog

Frank, Frank, Frank....Amen 3x's over for this post! I have had to deal with this on multiple short sales, but literally today one of my deals got my blood BOILING! The lender had the audacity to tell my short sale seller that they have no record of receiving her short sale package, yet two short weeks ago they told her it was being "processed" and a mitigation rep would be calling ME (her Realtor) within 5 business days. I happen to think they (the lender) are deliberately delaying the process in hopes of foreclosure. It's very very sad!

9:26pm • #5
MAY
17
385,764 Points 3 Featured Posts Outside Blog

Frank... Seems as if some times they really don't want us to get these properties sold. It is amazing. As Wendy said... They never seem to be able to find the authoirzation form. I have send them repeatedly. I like to get their e-mail and send this way so the fax monster can't eat them.

10:17am • #6

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Frank Wible, Foreclosure/Short Sales

Sewell, NJ

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Address: 5701 Route 42 South, Turnersville, NJ, 08012

Office Phone: (856) 228-7990 x 150

Cell Phone: (856) 745-7700

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