Our team is currently working on getting approval on a short-sale where 1st and 2nd lienholders are different banks. Bank of America (B of A) recently assigned a loss mitigator, who, bless her heart, must be suffering from a prolonged case of laryngitis because she has yet to communicate with us after several calls (and faxes). The loss mitigator for the 2nd lienholder has communicated very well (hats off thus far to Wash. Mutual - hopefully it will continue....)
The hardest part of the short-sale, its said, is just wading your way through the layers of communicative barriers and red-tape to get the actual loss mitigator on the phone. That's why I was overjoyed, albeit briefly, when I received something from B of A that would revolutionize this ugly process -- the GOLDEN TICKET of short-sales -- the ACTUAL phone # to loss mitigator assigned to the file. Of course, I called the number immediately and bowed my head in quiet reverence and got all misty-eyed just to be able to hear the message that the voice mail box for this particular loss mitigator....was (gulp).... full. I mentioned this joy was brief -- yeah, that's because B of A had that phone number disconnected the next day.
So, its back to the drawing-board.....more phone calls to the loss mitigation department, more waiting on hold for up to TWO HOURS to merely get B of A to pick up the phone. If only there were some way that a bank like B of A might better facilitate communication between a loss mitigator and an agent who is trying to help get a home heading to foreclosure sold and out of the foreclosure pipeline.....if only we could just get them to communicate a little more efficiently and try this new, FREE, invention called e-mail.....we might make some progress on getting some of these short-sales closed quicker and save our neighborhoods from the blight of foreclosures.
Subscribe to CommentsComment