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Are Short Sales Getting Easier?

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Real Estate Agent with Capital Foundation Realty Group 0225049498

Are Short Sales Getting Easier?Short Sale Agents You Can Count On

Maybe it is just me, but this past week I have had to deal with three banks and a housing authority on three short sale listings we are currently working.  I was amazed in the changes that have started taking place within the loss mitigation departments.  The individuals on the other end were actually courteous and helpful!

One of the banks even assigned a negotiator after we simply sent in our authorization form - and then sent me their name, direct phone line, and email address!  WOW - hopefully that is a sign of things to come...but we all know the truth...the answers all lie in the investor.

Short Sales are the market future, I have blogged about this before, because even if the defaults stop, people will still need to move in and out of our area.  I was amazed at how the operators understood their procedures, and were able to outline what exactly they needed from us.  Our Short Sale package is very detailed - but one bank told us they only want three things - Hardship letter, financial worksheet, and 1st trust mortgage statement.  Obviously this was a second trust situation, so it was necessary to get both the first and second on the same page.  But a year ago, they would not even talk to us without being late!

On another Short Sale, we are dealing with the VHDA - their representative was great.  She outlined their plan, told me the three items she needs, gave me her direct number and email, and told me that she "looks forward to resolving this" - a positive attitude for a tough situation.

Maybe we are turning a corner - The single most important thing is constant and effective communication.  We shall see what happens, but things seem to have started on the right foot.

Jimmy Mulhern

http://www.HowToAvoidForeclosureInVirginia.com

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