Can anyone tell me why the banks take so long to approve a Short Sale? I know the standard response....well we have to do this and that and it just takes so long....I do not buy it!
I have talked to a handful of asset managers during my SS Transactions. They all seem to have 350+ cases on their desks to sell. Holy Cow!
This is not a new phenomena. You would think that the banks would create a specific department that would be properly staffed to handle the caseload. Some are outsourcing. But jeesh!
I have written letters to everyone I can. With the same question, "Why?" What does it hurt by handling these transactions in a timely manner? Some slip into foreclosure during the whole process. Hmmmmmm.....how does that benefit the Customer? Not trying to be negative. Not meaning to complain. But can anyone offer me a piece of advice as to the reasoning here? Is there anyone else I can contact outside of the obvious Realtor Reps and Government leaders. They have no answer for me. Just the generic, "Mrs. Clem that is a very good question." Then I get a polite form letter thanking me for my time and that they are looking into the question. Then they remind me to vote. How tacky. That's just my opinion though.