Have you had crazy behavior from banks on Short Sales. Just when I thought it was getting better, they continue to act weird. That is scary since these are very sophisticated organizations. For example, Chase once told me that unless we paid the water bill upfront, they would not consider looking at our documents. And, I asked, why would we do that when you might foreclose anyway. That is our position, they said and hung up. I presented a short sale and they foreclosed anyway.
I have had another experience twice recently. Homeowners try for a loan mod, in one case almost a year. They are turned down. In once case, the borrower was unemployed for 9 months and would never qualify. So, I prepare all the paperwork to list the property, and they get a letter from the bank saying, ......you are a candidate for a loan mod. Yeh, sure!!!!! Even thought I tried to explain that they somehow got on the Preprinted letter list, they felt they have to try again. So, here we sit.
I have to believe there must be some hidden incentitive for them to do what they are doing! What do you think??