Short Sale Testimonials: the Good and the Bad

Real Estate Agent with Home Expo Gallery, LLC (Keller Williams)

"What I have to say is that Ms. Adriana West was very efficient and attentive to all my questions since I signed my contract with her until the closing.  Thanks."

The feeling I enjoy every time I close a Short Sale and receive this kind of feedback is wonderful. I know for sure this Seller is going to be able to re-build his financial future.  This is one of the more important reasons I started working in Short Sales in the first place.

I would like to know how to give this kind feedback (the good and the bad) to a Lender or Servicing Companies that is not doing its job, and have them listen, while millions of people are facing foreclosure.  When they are in the middle of a Short Sale process, waiting for months and months for an answer, calling the Lender every week and still go into foreclosure - with their houses selling for less of the Offer that was in the Short Sale process.

This month one of my clients experienced this situation, working with Everhome and their service provider for Short Sales transactions National Quick Sale.  We worked together for over 4 months, and provided everything to this servicing company.  I paid a fee up front just to have the privilege to process the Short Sale through this Company (and lose an additional one point of my commission + $ 250.00 because they require it just to process the transaction).  After calling, sending emails, contacting supervisors of both companies, and proving to them that the offer we submitted was 20K above what the properties are currently selling for in this particular subdivision, they decided randomly to foreclose and not give any answers.

Now, you might think: well 20K is not that this case it really is that much when the property is only worth $60,000. 

After the foreclosure, I kept calling and sending emails.  Somebody left me a message saying that the "investor" owner of that loan decided to foreclose instead of extending. When I tried to call back, the telephone number that this gentleman left turned out not to be his, it is from a completely different lady.  I never heard from them again.
My client was asking me if there is a way to hear get an answer from them, due to the fact that her house is going to sell for less than the offer we were working with. She believes that she did all she needed to do to go through the Short Sale process, she would like to have a letter from the "Investor/owner of her Loan" to really understand the reason why her file was not important.

I always like to post good news here in my blog, and not be so negative.  On my next blog I will share a transaction through another Lender... a positive one... they are improving their system and it is actually working!


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