Short Sales are like Beacon credit scores to most people. They know what it is, some even have a really good idea of how it works, but it's still a mystery. I would like to say that the banks are trying to keep it a big secret, but I'm sure that's not the case. Last year Loss Mitigation was one of the fastest growing job markets in the world, which should surprise to no one. Think of the amount of training required and the learning curve these institutions are going through.
As Realtors, and consumers, both sellers and buyers, we need to understand this and be patient. Frustation leads to negativity, and negativity leads to your file going back to the bottom of the pile.
I am not a loss mitigation specialist, nor would I want the job of deciding the fate of a homeowner, but I am a very experienced short sale Realtor, with numerous successes. My business is helping people to become whole again, detaching ones emotional pride from the outcome.
If your in the Hampton Roads area and have questions, please call. If you think your going to lose your home, please call. Most importantly if you want to sleep at night knowing that the situation your in isn't all your fault, please call. Most people who go through the process of losing a home are the same. They are hard working and come from all classes. It effects low income to high income, warehouse workers, factory workers, blue collar, white collar, bankers, lawyers, and doctors. Most of these people try everything, they pay their bills with credit cards, they borrow from family and friends, they take pay advances, they work two jobs, and take all the overtime they can get. They whittle their 401K's to nothing, they spend their kids college fund; they try.
No one is to blame fully, It is Capitalism, not bad, just a cycle, we go up, we go down. It effects society and it effects every individual, so try and sleep tonight knowing that your not alone, and tomorrow instead of letting it consume your every thought do something about it. Talk to a professional who will give you their time for free. Lawyers, Consumer Credit Counseling and Realtors will all help, and they hold what you say in confidentiality.
If you are in Hampton Roads you can reach me any time.
Brady Howard
Broker Associate, Keller Williams Elite Realtors
Short Sale Specialist
757-635-2516
bradyhoward@kw.com
;)
;)
I agree whole heartedly with you Brady. I am a short sale specialist in the Albuquerque, New Mexico area. Loss mitigators working for banks have a tough job, too little pay, too many files and realtors who don't always understand the system. I offer a referral fee to realtors in my area who are not experienced in handling short sales. This allows them to give the best service to their clients who have less risk of having their homes go to foreclosure. Someone who does not understand the process should either get educated or refer their clients to someone who does understand. It is a real disservice to howmowners to not have a real understanding of the process.
I go one step beyond negotiating the short sale with the bank, I actually buy short sales from the bank. In this way, I can make an offer on the property immediately if it fits my criteria. This saves time waiting around for an offer to be able to submit the short sale to the bank.
Short sales are going to be around for a while. I don't see the economy rebounding for the next year or so.