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Short Sales: the interminable waiting game

By
Real Estate Agent with Coldwell Banker

Rampant short sales and huge lender losses

I understand the pain lenders must feel with all the losses they are suffering right now.  So, why doesn't someone from within, from within and above, streamline the process so they can minimize their losses and move on??  The extent of the bureaucracy is unbelievable.

The short sale process: a classic bureaucractic quagmire

A prime example of lenders cutting off their noses to spite their faces is what's happening with my clients P and T....  (read more on my main blog http://www.delmarcaliforniarealestatesearch.com/waiting-for-short-sales/)

Comments(3)

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Brien Berard
Remax Professionals Laurel MD - Laurel, MD
Maryland Real Estate Agents - Laurel Real Estate

Yes, I wrote a blog about this today and have done in the past.  My office manager told me today that one in five short-sales settle on average.  That is crazy. Its scary too, because I have four short-sales under contract right now and I am about to write on a fifth.  I have to write on short sales, because they so dominate our market.  I feel good in that all the contracts are short sales with only one lender involved.

Feb 07, 2009 10:42 AM
David Width Jr.
Little Egg Harbor, NJ

You would think they would just want to get these properties sold and done with, otherwise it will be more work for them in the future.

Feb 09, 2009 03:15 AM
Eva Meier
Coldwell Banker - Del Mar, CA
Ph.D., ABR

Yes, you'd think they would try to streamline the process to save themselves money and time...

Feb 09, 2009 03:32 PM