Just had a couple of experiences that make life crazy in this SHORT SALE and Loan Mod market we are in.
Let's start with the short sale. I prepared the seller. We priced the property well and got a real solid offer, all CASH. I have a very extensive checklist and the seller prepared all the docs. I helped them prepare a well done HARDSHIP letter. We sent it in. The lender pulls the prelim and says, there is an outstanding garbage bill for $230. It must be paid, they said, or we will not consider this sale. So, I went back and said, here is a new contract and I will pay the $230 at closing. No, they said, it must be paid upfront or we will not consider it. Oh, and since I made the mistake of actually double-ending the sale, they will only pay 3% total commission. I am not sure if this is just incompetence, revenge or what. Welcome to US Bank. Anyway, we are moving it up the chain and now speaking to a supervisor but who knows how this will turn out.