Home > Blogs > Donna Oehler > Donna Oehler "Antelope Valley Foreclosure Specialist"

A Few of the Banks do "Get it"

By Donna Oehler

Real Estate Agent with Realty Executives Platinum

November 16, 2007 04:32 AM

This is a follow up to my How do we get the banks to get with the Short Sale Program?? post a few months ago.

Today I called one the the servicing companies I have been working with to follow up on a short sale package I submitted several weeks ago. After staying on hold for several minutes, and getting switched to several different people they told me they could not find the package I submitted ... errhhhh "not again I though" - but then I heard s cheery "But wait" from the voice on the other line.

"We have recently streamlined our processes" - now my ears perked up a little

"Now when you submit your package we only need: listing agreement, offer, net sheet and HUD 1" WOW!! that was good news to me. He also said that their average turn around time is now 2-3 weeks as opposed to the 5-7 weeks before.

This could be GREAT news! I am going to be very optimistic that this process will finally be stream lined. Lets keep our fingers crossed that our voices have finally been heard!

Comments(6)

Comment

Show All Comments

Sort:

Todd Hueffed

Champions Real Estate Services - Everett, WA

Make sure you watch the second if there is one I had one buy out the first 3 days before closing once and that was after they said that they would do nothing and let it close.....talk about some mad buyers.......I was the listing agent.....

http://www.thathomezone.com/ in partnership with Keller Williams North Seattle

Nov 16, 2007 05:03 AM

Jason Botelho

Keller Williams Utah Realtors - Saratoga Springs, UT

Don't know a lot about short sales, but it makes sense to me that the banks would be looking to make the process easier, especially with what's coming down the pipe!!!

Nov 16, 2007 10:04 AM

Lynn Pineda

eXp Realty - Boca Raton, FL

Real Estate Promises delivered in SE Florida

Donna, I'm sure that the short sale processing with banks will improve over time. As with anything that you do enough times, you're bound to find a better way to do it with practice. This is good news!

Nov 16, 2007 10:08 AM

Steve Shatsky

Dallas, TX

Wow! This is GREAT news. Making a short sale more palatable for everyone would definitely increase its attractiveness for buyers. I'll commit to being cautiously optimistic that this sort fo streamlining could spread beyond a single lender!

Nov 18, 2007 05:58 AM

Donna, I'm being presently surprised so far with a short sale that I'm dealing with. I phoned in to a lender today and within 30 minutes I had a return phone call and a very pleasant person on the other end advising of an appraisal being ordered within a few days and the package was submitted to this lender just about a week prior. Something else to be thankful for with Thanksgiving approaching!

Nov 20, 2007 04:40 AM

Stella Barbour

NoVa Brokers LLC - Vienna, VA

Principal Broker, Serving Virginia and Maryland

Donna, that is great to hear. My packages are so thick when I send them, and they always want them faxed and with 50 pages, it gets to be a chore. I am working on a few now but they still are asking for a lot of paperwork.

Nov 27, 2007 11:49 PM

A Few of the Banks do "Get it"

Comments(6)

Donna Oehler

Real Estate Resources

Recent Posts

Additional Information