The Lenders are Lying in the Short Sale Process

By
Education & Training with Florida Realtor/Real Estate Problem Solver(Nat'l)/Coach

DON'T LET YOUR LENDER FOOL YOU

THEY ARE NOT ON YOUR SIDE

OCWEN just told us they have shut down their Loss Mitigation Department!

Now we all know a Lender can not shut down a department and still service their customers.  This is just one more lie the Lenders are Telling us.

Two Months back a local Realtor called me to release a listing because, she stated, the bank now owned the property.  I was working on the short sale.  I stated I would release to listing, if she could produce the deed which showed the Lender took the property back.  She called me 6 weeks later.  She had gone behind my back, paid the seller to move out of the property and had the seller sign documents turning the property over to the Lender, without an auction.

Realtor - now is the time to take back the real estate sales industry.  Lender can no longer be in control and buy and sell with us...and we need to not let them use us against each other.

Have the Lender been promising you - if you do the BOP and the property doe not get sold in a short sale (therefore - in the Lender's interest only) that they will in turn, give you the REO listing.  Junk begets junk.

Let's hear your story!  Let's take a stand and protect the little guy.  Let's team up and take back Florida!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Florida
Groups:
Realtors®

Spam prevention
Show All Comments
Rainmaker
127,537
Jude Sandvall: DreamHomes by Jude
Brokers Guild Classic - Englewood, CO
720-427-1021
Actually, I heard a rumor here in Colorado that Ocwen's Loss Mitigation department is going away.  They might not be lying. (not that they don't on other occassions)
Apr 16, 2008 07:01 AM #1
Rainer
12,063
Vincent Arcuri, P.A.
Cooperative Real Estate - Tampa, FL

Becky, I love your energy!  You are so right, but the Short Sales are so shady.  It seems like the lenders don't know what to do from one day to the next.  We have closed 15 so far this year (Short Sales) but it has been comic entertainment to say the least!

http://headofrealestate.com

Oct 07, 2008 12:08 PM #2
Rainmaker
67,920
Denise Allen
Resh Realty Group - Chesapeake, VA
Realtor@ Chesapeake, Hampton Roads

It seems to be a big problem and seems to be getting bigger and bigger.

Oct 07, 2008 01:23 PM #3
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
5,300

Becky Weliczko

Ask me a question
*
*
*
*

Additional Information