Wow... someone takes another short-sale seminar... and becomes another expert. So, here it is, 30 days later, and I find out an agent has hired someone to help her with a short sale. Does her client know... but better yet... does her broker know what a great idea getting another person involved is. It's a great way to make everything harder. What happens when we try to be everything to everyone?
As a former Bank examiner and asset manager, I stayed out of the loan-workout business until I decided that I had more to offer to those in trouble. However... this is a very risky business because of all the players involved. All I can say is "Let's continue to work with the short-sale professionals.
The rules in short sales show that each situation depends on the players involved... and how long it takes to get all of the paperwork in. We, of course, hate the time it takes... and all the waiting... and we still can't get an answer.
The first real problem is that you have two industries trying to talk to each other... mortgage banking, and real estate. If I were to teach a course in short sales, I would start with bank "buzz words." I would love to know who this "Home Sweet Home" loan work-out advisory group is. Does anyone know about this ?
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