I have been part of some groups and for two years now we have been hearing, working towards, and hoping the lenders would begin to streamline the short sale process, and not just the length of time it takes, BUT stop stringing homeowners along, and giving them some TRUE options and some REALITY so they can make proper decisions for the families. What do I mean? Lenders know early in the process whether or not they will approve a customer on a loan modification. There are many reason, and many theories why they do not tell, work with homeowners early in the process. I have my own theory but that is not what this is about.
We are starting to see SOME lenders in SOME areas begin to certify (NOT JUST TAKE AGENTS MONEY) on their short sale procedure, AND give the consumer REAL OPTIONS, and QUALIFIED AGENTS CHOICES to assist in the process. Why is is this important? I believe whether the news is good or bad, the consumer needs to KNOW the TRUTH so an INFORMED decision can be made. People CANNOT make this decision WITHOUT INFORMATION AND MORE IMPORTANTLY MIS-INFORMATION.
If short sale (or foreclosure) does become the best (or only) option the consumers needs choices of qualified individuals they may then call to discuss these options and navigate what is best for their families. We are BEGINNING to see that. What I am seeing IS NOT PERFECT and will need ALOT of monitoring, and changes, but IT IS BETTER THAN WHAT WE HAVE PREVIOUSLY SEEN.
Fellow realtors and brokers......DONT JUST JUMP ON THE SHORT SALE BANDWAGON! Learn, educate, teach, prepare so we may have good solutions for our buyers and sellers. We have to get sharp, STAY SHARPER, get on the front lines with homeowners. Truth be told we are the only ones who can really reach the homewowners. Hopefully we can get help from the lending institutions and help more people.
Comments(3)