Which banks are easier to do short sales with?

I would have to sat that as a rule most of the National Lenders are pretty good! The regional lenders are smaller lenders who hold tthe 2nd's on houses are usually clueless and re[ly with things like why would we do that? or my favorite, Sir you do not understand banks don't do that....

Cooperation is predicated on the type of loan, and the workout criteria imposed upon the servicer by who owns the loan... not necessarily the loan servicing entity.

An Ethical Approach to preforeclosure short sales

Right and right again.

Many of the lenders I work with are community banks with interests in keeping themselves looking good in their area.  In addition, working with the commercial lending side of a larger bank is easier than working with the "mortgage" side.  Both of these have less layers, which makes things a lot simpler. 

I would like to see a list of Banks that are easier to do Short Sales with. Anyone?

I would like to hear about some experiences working short sales out from many of our active rain experts. From my own experience Indymac does not accept short sales and in the past Option one was much more open to the idea. I know this might go against the intelligence of some of our experienced activerainers but all I have to judge is my own practical field experience.

Anthony 

 

Check out Mike Mueller's site.  He has some good information on lenders and short sales.

Easy is certainly a relative term. So far my experience is talking the second lien holder into settling for something verses nothing is simple. Now getting them on the phone...well that can be a trick... I seem to have one now that we call daily but no avail...there goes a nickel holding up up a dollar.

I worked with Bank of America recently and apart from the frequent phone calls that I had to make, they were okay.  However, I have heard that America Servicing Company is one of the worst.

Just my 2 cents.

Did you check out Mike Mueller's site?  Some really good resources and information on foreclosures and lender information.

In todays market the banks are looking to put the deals together and are alot easier to deal with. They are a little backed with so many files on their desks, however I've noticed that they have become more flexible and are willing to take bigger 'hits' than they were just 18 months ago.