Each and every week, there are things going on that impact the short sale business. Sometimes there are big changes to federal and state policies that impact short sale processing and the distressed property world. Other weeks, there is news about government programs for distressed borrowers.
Read below to learn about some of the interesting stuff that went on this week in the distressed property arena:
Freddic Mac Servicers in Hot WaterYou’re probably about as shocked about this as you were when you heard that Lindsay Lohan was going back to court. Freddic Mac servicers received complaints about the quality of their service when processing short sales. Imagine that!
Two Lenders – One Short Sale If you are negotiating a short sale with more than one lender (and you have never done a short sale before), this would be like going to Harvard without passing the sixth grade. Read what’s going on with some of these second lien holders.
A Multiple Offer Tug of War This article discusses why you need to leave your “Cash is king” mentality at the door. It’s changing world out there, especially when reviewing multiple offers on short sales.
By the way, Short Sale Expeditor’s® partner company Transaction 911 just launched it’s new website with help from the awesome folks at Proof Branding.
Transaction 911 provides agents with a team of virtual transaction coordinators—your team behind the scenes. Check out our new site to get some tips and tools for going paperless, creating a virtual office, and even updating your California real estate paperwork. We’d be honored and humbled if you’d also like our new facebook page, follow us on twitter, or connect with us on Google+.
Apparently, if we get enough fans for our facebook fan page, I've committed to doing something really crazy--and you have a say in what that will be (so please vote below):
There’s lots going on in the distressed property arena. And, if you are actively working with ‘distressed’ borrowers, it’s important to keep up with all of the changes in the industry. Sometimes that’s hard, which is why we’ve provided you with a weekly recap right here—and I’ve also given you some unwanted info on porta potties!
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