Well this home has been Under Contract pending Short Sale Approval since June 7th 2009.  2191 Mackenzie Place in Woodbridge Virginia has two loans on it. I am taking you the reader step by step so you can see how long the short sale process takes, what is involved and why you will need help getting your home SOLD BY SHORT SALE.

If you're just tuning in, you may want to read previous posts in this Reality Blog Series about a Two Loan Short Sale and what we as Realtors, Loan Officers, Distress Homeowners and Homebuyers go through.

So let me update you. Over the holiday weekend I received a very unexpected email on Sunday evening from the Suntrust VP  he stated he was in receipt of the short sale packet  and he was forwarding it to a Loss Specialist. . Yeah! I was shocked he was working on Sunday after the 4th. That ought to tell you how slammed these banks are with short sale requests.

 So, I'm encouraged we are finally making some progress.

Well.....not so fast!

Today I get an email from the homeowners. I got this email this morning from the Loss Specialist...I thought you sent the package weeks ago?

Sent:

Thursday, July 9, 2009 9:13:09 AM GMT -05:00 US/Canada Eastern
Subject: RE: Acct# xxxxxxxxxxxx-Homeowners Name

Please submit purchase contract and listing agreement.

Urrgh!!!! Within the hour I send the entire Short Sale packet for the third time. However I express my frustration because I submitted to entire short sale packet, contract,comps, hud-1,financials everything by fax back on June 7th and I had confirmation it arrived. Plus the VP of Operations confirmed he had forwarded the entire package to a specialist. You all just keep dumping the same email on me! I've sent it already!!!

This is the response I recieved shortly after sending the package." I want you the reader to see and feel the stress level that Short Sale Specialist at the Banks are feeling."

Nothing about the Short Sale Process is easy...

 Sent: Thu Jul 9 12:47 , 'xxxxxxxxx' sent:


 Subject: Fwd: RE: Loan# xxxxxxxxxx- Homeonwer's Short Sale Packet-4th attempt

I know it's fairly hard to understand but to you it's one file at this time on my desk I have 75 active short sales!!!! (normally no more than 20 active at one time) and tho I would love to think I am perfect I am not and I will misplace something or began working one file someone will ask me about another and I may slip a sheet in the wrong file. It Happens...............

 As far as Steve department, I have no clue. But the day the file was sent to me was from your email. So anything previous to your email I have no knowledge of and FYI I have 4 Patillio's 3 Jackson's, 7 Jones ect...... so I apologize for re-requesting information. I just want to make sure that I have everything in this file. I may very well review another account tomorrow and realize Dawn Patillios listing agreement is in the file with S. Patillo.. 

Not to say I am incompetent but I do make mistakes so please bear with me on this.

 United Guaranty Insurance (UGI) Specialist Asset Disposition.

Everyone is caught in the Short Sale Process...everything is so LOG JAMMED ! That's why it is so important for everyone to remain patient and to understand what the Loss Specialists are going through. They do not have easy jobs. You can here the frustration in her email. Kindness,persistance and total organization on the part of the REALTOR who is listing your home and helping you through the short process is the key to a successful Short Sale Approval. 

 Stay tuned....as we continue toward a Successful Result!

Please if you need help and are falling behind on payments don't go it alone. Hire an experienced Short Sale Realtor to help you.

Do you have questions? Just ask...comment below.