Real Estate Blog - Why You MUST Call The Short Sale Lender Every 3 Days

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Why You MUST Call The Short Sale Lender Every 3 Days

Short Sale Calendar

If you don't call the Short Sale lender EVERY 3 days...

1. It might be a month before the short sale lender lets you know you are missing paperwork (they "lost" it)

2. You won't know you're not "authorized" (they misplaced your letter)

3. You won't know they NEVER got your short sale package, (although you have the fax receipt)

4. They might never "refer" the file as a short sale (Countrywide cases) because it's still in loan modification process

5. They won't call YOU with a counter offer until they "get" to it next week

6. You might not get connected with the "right" rep who gives you a different answer and really cares

7. You won't be able to tell them the appraisal STILL has not been ordered

8. You won't be able to tell them the BPO agent went out to the property 3 weeks ago

9. You might not find out about the scheduled foreclosure sale date, nor be able to postpone it

10. You won't find out they've switched negotiators, because the previous one no longer works there, so you'll have to start all over

11. You won't be able to save the file from going to collections

12. You won't find out the junior lien was sold to an MI company as an insurance claim

13. You won't know they rejected the offer and closed the file

14. You won't find out the negotiator didn't get your email because you mispelled her name

15. They'll forget about you

In short, no matter how excessive it may seem, it's critical to stay on top of the short sale lender. One phone call may be the difference between approval or denial.

It's Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

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Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email itswendy@rulnickrealty.com

Wendy Rulnick specializes in real estate sales, short sales, traditional sales on Emerald Coast of Florida: Destin Florida real estate, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Dune Allen, Blue Mountain Beach, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy Rulnick, Broker and Realtor, has been selling real estate for almost 20 years. She has won numerous awards, including the coveted ADDY for advertising design. An expert marketer of real estate listings, she negotiates successfully to her dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice. The information provided is for educational and informational purposes only. It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information

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Posted by Wendy Rulnick "Its Wendy!" Destin Short Sales on 12/03/2008 09:06 AM

Comments (17)

Short Sales in the Sales Strategies / Tactics Channel

short sale agents, listing short sales, short sale approval process, destin fl short sales, seagrove beach short sales

Originally posted at: Destin Short Sales- Emerald Coast Florida Real Estate: Why You MUST Call The Short Sale Lender Every 3 Days

Post is included in group: Short Sales Specialists
Post is included in group: Short Sale Specialists & Pre-Foreclosure Education
Post is included in group: Short Sales and Forclosures ONLY
Post is included in group: Short Sale REALTORS®
Post is included in group: Default to Short Sale

17 Comments on Why You MUST Call The Short Sale Lender Every 3 Days

DEC

2008

Wendy you make a great case for not wanting to do short sales - LOL You certainly have to have the patience of a saint.

Thanks for the info. Very interesting list.

Bill - I often don't feel like a saint!

Dana - I can probably add a few more to the list, unfortunately!

Interesting post. The one thing to keep in mind is you need to be politely consistent, but not overbearing. In this market, I've seen several of my realtor partners work with the same rep on multiple short sales.

Hi Integrity - Yes, always call with a smile (when you can).

I would go so far as to say you have to literally call every day if not twice a day. They will change all of this stuff on a daily basis and I am not even joking. I am sure you know as well how frustrating it is to spend weeks working on it to call and the bank say they have no idea what you are talking about! Its really not fair. I think the government or someone needs to intervene here and help out the people in need. Its not fair to them to have their lives and finances dangling like a string with no one caring about them except us.

This is exactly "WHY" I don't and won't do short sales...

Thanks for encouraging me I need to get on the phone...

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They are trying to get through but if you keep your "smile" and keep up the consistancy and contact -not impossible. Great list Wendy. It can be frustrating as well because it always seems that the next one the bank does things differently. Maybe they have a system within their system but it can be like pulling teeth generally!

Eau - In some instances, I will call twice a day or every day, in others, it may be a week, especially when I know an appraiser just went out, so we are waiting for it to get back to the lender. Consistancy is the key. As for the lender's unbusinesslike inefficiency, I sadly doubt there is anything we can do.

Michael - I hear ya!

Kelly - Get on the phone- it may be good news!

Valerie - Tenacity, that's the key!

It amazes me that the banks have not figured out how to lose less money by now. Good Post.

Randall - Thank you!

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