Montgomery County MD – We got a short sale approved yesterday. This file was a fiasco from day one. Despite the incompetence we suffered, we got the file approved thru persistent follow up. The first lender handling the file was incredibly incompetent. Their short fax number didn't work. We mailed the short sale package to them and they lost it. We mailed it again and they finally got it.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
We would call, e-mail, and fax the short sale negotiator. He wouldn't get back to us for 2-3 weeks at a time. (This was despite us calling and e-mailing every single day.) We finally got him to call back when we threatened to go to the press with the story.
This incompetency went on for several months. Unfortunately the first buyer got impatient and walked. Fannie Mae was the actual owner of the loan. They eventually fired the first company as the servicer and hired another company. This new company was also fairly incompetent.
Here is what was shocking! The company is a subsidiary of one of the largest information technology companies in the world. The subsidiary's phone lines didn't even work properly. The automated prompts went in a circle. Just goes to show how technologically advanced they are!
Finally we were about to get an approval. The short sale negotiator calls us. "I can approve the file if you do this and this", she says. We make the changes and send them to her. A few days later she calls back. "You need to net us the same amount of money and raise the sales price", she tells us.
She explained that the file had Mortgage Insurance and they their approval. We talked to the title company and figured out how to make the changes. Fortunately everything worked out ok. We raised the price and had the seller pay the same amount of the buyer's closing costs. Yes, we had to get a little creative. Please note: Everything was completely legal and ethical.
Here is the point of this crazy story. Short sales are unpredictable. The lenders pile more and more files on each staff person. In my opinion, these staff are overworked and underpaid. Fortunately most short sales are not as bad as this one. If you are persistent and know what you are doing, even the bad short sales can be approved.
Thinking about a loan modification? Our Montgomery Frederick & Prince George’s County loan modification guide will show you how to reduce your mortgage payment, keep your home, and get back on your feet. Send us an e-mail at info@rickthompsonteam.com to request a Free Copy.
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Thinking about a short sale? We can help you short sale your property so you can move on with your life. Send us an e-mail at info@RickThompsonTeam.com. We will contact you for a free consultation.
When we talk, we will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call Rick directly at (301) 758-1059.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Avoid Foreclosure, Keep your home & credit: StopMocoForeclosure.com, StopPGForeclosure.org, StopFrederickForeclosure.org
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Thanks for reading this, Rick Thompson & Team
Real Estate Agents at Remax Town Center. Montgomery Frederick & Prince George’s County Short Sales Realtor:
Rick Thompson Phone: (301) 758-1059 email us at: info@rickthompsonteam.com
Chris Thompson Phone: (301) 758-2679
Over 1000 families helped
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Stop Foreclosure Institute of Montgomery County
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Rick Thompson & Team specializes in loan modification assistance and short sales in Montgomery County Maryland. Montgomery County Loan Modification Help, Montgomery County Short Sales. Montgomery County Short Sale Realtor Montgomery County MD Short Sales. Montgomery County Realtor.
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Important Notice
Rick Thompson & Team, Remax Town Center, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Rick's personal views and do not reflect the views of Remax Town Center.
This information on Will your Montgomery County Short Sale Realtor follow up properly to ensure success? is provided as a courtesy to our viewers to help them make informed decisions.
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