Do the big national lenders know up from down in dealing with homes for sale in Eugene and Lane County, OR? Or anywhere else for that matter? The answer, of course, is "NO!"

Do the big national lenders know up from down in dealing with homes for sale in Eugene and Lane County, OR?  Or anywhere else for that matter? The answer, of course, is "NO!"

Example Case One:

I received two emails over the last few days from Chase.

I sort of disregarded them because they were asking if I was the listing agent for a particular home for sale in Eugene, OR.  I wasn't.  And I was out of town for the Fourth of July - my sole summer break with my family.  Then on Wednesday, I attended Active RAIN's RAIN CAMP in Portland, OR.  I really hit my desk ready for action only this morning.

My telephone rings.  It's Chase.   the nice lady tells me they are a lien holder on the property she's been emailing me about.  I tell her I'm not the listing agent but I'll happily find out who is.  A few clicks on the Regional MLS site immediately pulls up the address.  But it's not currently listed.

It just sold:  

I assured her if Chase had been holding a lien, it didn't have one now....because, in Oregon, our title companies and escrow officers know their stuff.....if it was of record, it's been paid.

Embarrassed, she thanked me....and she never did learn the identity of the actual listing agent.


Example Case Two:

This involves one of the homes for sale in Eugene, OR that I actually did have listed this winter and spring.  It should have been a short sale.  But, as a matter of faith, the seller did not want a short sale.  No argument or piece of info or advice changed that.

Bank of America was foreclosing in May.

Sick about it, but unable to obtain permission to list it as a short sale (at a short sale price), on the intended foreclosure sale date, I took down my sign and pulled the listing.

I thanked the seller for allowing me to list his property.  Only then did he agree a short sale would have been a good idea.  Wow.  I was disappointed in and for us both.

But the seller kept getting calls and letters from Bank of America. They wanted him to catch up his payments. He responded with incredulity.  

You know I've been living in another state.  You want me to catch up my payments on a house you've  just foreclosed upon?  I hope you know you have no right to a difficiency judgment in Oregon.

They didn't know anything about that.  They just wanted him to make a payment.  

It turns out Bank of America rescinded their Notice of Default.  They did not go to sale.

So now we are back of the market.  New Listing.  New price.  A Short Sale.

Still no new Notice of Default.  We'll have time ...and better results this go round.


Tell me, do you think our national lenders know up from down?

My answer, in a word:  NO!!!