We closed a short sale two weeks ago. After the closing, it appears that US Bank, the short sale lender, changed out the locks and put a new LB on the door. The buyer went home today and found they couldn't get into their house. I talked to a lady at US Bank. You could tell she was worried about a police report being filed.
Over the weekend the owner filed a police report. In addition, we found proof on the property that the person who changed out the locks was hired by the bank. A slip was left on the premises from "Five Brothers." I would assume this is some sort of property preservation company.
We have to start using tougher tactics with these banks. Otherwise things will never change. Here is another example of how an individual is using the foreclosure crisis to push their personal agenda. Last week I had a BPO come back with a ridiculous number. The agent who did the BPO is a listing agent in a new home community. He got mad at us when we listed a short sale in his neighborhood. Now he's doing BPOs.
It appears that he came back with a super high BPO to kill our short sale. I need to figure out what to do. I know that California has gotten a lot tougher on agents doing high BPOs. If you are in California, please let me know what short sale agents did to solve the false BPO problems.
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Ben & Chris Curry - The Short Sale Agent's Advocate
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