National City Mortgage Short Sales are now with an outside company

By
Real Estate Agent with Preferred Real Estate Services

I was notified that an outsourced company called Loan Resolution is now handling my Short Sale listing file.  They said that this will speed up the process from months to a matter of weeks.

 

Sounds good to me!  I hope it does go faster.  I have been waiting for almost 6 weeks now.

 

Yeah,,,,,,we shall see!

 

Has anyone else had this happen?

Comments (4)

the Chris & Lisa Grus Team
Premier Realty Exclusive - Saint Louis, MO
GRI, e-PRO

I haven't done short sales with National City / PNC, but I hope that it helps.  These short sales taking 3-6 months is just not compatible with 90% of buyers.

Oct 15, 2009 06:18 AM
Anonymous
Gerald Seegars

I am getting ready to list a National City short sale property.  Do you think I should contact Loan Resolution first or go through National City?  Do you have a good number to call to start the process?  This is my first short sale with National City and I have to be honest, I have not heard anything positive about National City's short sale procedure.  Hopefully, your experience and mine will be relatively positive now that they apparently have a new systmen in place.

Nov 03, 2009 06:34 AM
#2
Anonymous
Diane Dunker

I have been working with National City for over 7 monthns now.  We received an approval in December and tried to close and they called up the title company 4 hours before closing and told them not to close the approval was not any good even though we were still under contract.  We had to cut the sellers paid costs from $5000 to $3300 which was fine that was months ago.  Loan Resolution continues to say they don't know what is going on.  This has been a terrible experience.

Jan 07, 2010 12:51 AM
#3
Rachel Clem
Preferred Real Estate Services - Fredericksburg, VA

Just keep copius notes on every thing that happens.  I time stamp and date everything.  You never know if lawsuits begin to rain down on the banks for the short sale landslide.  All you you can do is represent your clients as best you know how.  I am still waiting for my approval.  They keep telling me another 30-60 days.  I have had approval on the second for months.  This market is insane!  Good luck to all!

Jan 07, 2010 02:14 AM