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Short Sales Still a Frustrating and Too Often An Unsuccessful Process
Just received word from a colleague who has been working on a short sale for me that the lein-holder foreclosed on the home while they were working the short sale. (My colleague only works short sales, and knows what she is doing). The lein-holder has been dragging this out for months, and every time they wanted something, the homeowner and my colleague got it to them immediately. My colleague diligently stayed on top of the deal, calling the Short Sale Department almost daily. The buyer has been waiting to close for months on this property. The Short Sale Department and the Foreclosure Department of this bank did not communicate with each other, and it's the homeowner who suffers again. Six months of work and aggravation, and nothing to show for it except another foreclosed home, where the leinholder is not going to get nearly what this buyer was willing to pay for it. Talk about one hand not knowing what the other is doing. Damned banks (Sorry for the bad word, but this really really sucks).
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