Did She Save the Home?

By
Real Estate Broker/Owner with Heart Realty Group, Inc.. IL-471.002355

I could hardly wait to get into the office and make my call to The Lender....(name not used to protect the guilty, inept, etc.).  The Lender had told me that my authorization would be live in 48 hours.  I heard this from the 3 service agents that I talked to on Saturday, Monday and Tuesday.  So I was ready...I had rehearsed my conversation...I had meditated on a great outcome and I started dialing.

The latest number I received actually gave me an extension to call so I knew I was getting closer.  After my chirpy hello and exchange of loan number, address, etc.  I let the agent know my name and the reason for my call.  After putting me on hold twice I was informed in a firm voice that he could no longer speak with me because there was no authorization on file and that I could fax it again but it would take another 72 hrs.  I told him I did not have 72 hrs since the sheriff's sale was TOMORROW and that I had 2 offers already with a 3rd being written up later today.  Too bad...he says...nothing I can do....I can't talk to you no more...looks like its being sold....click...click

I stood with the phone in my ear and just got mad.  I know that they have their rules but their attitude really is pathetic.  So with no other choice I called the homeowner and asked him to call The Lender directly and see if he could get the extension.  Homeowner told me that he had spoken to them yesterday and had faxed a bunch of documentation that they had requested giving him the feeling that they  would extend it.  I told him to call and then give me an update.

While I waited for that I called the "foreclosure" attorney's phone number that another service agent at the bank had given me.  Lo and behold it was the Big C.....one of the largest foreclosure attorney's in my area.  I was able to get through and explain my situation.  Unfortunately, I got the same answer....Only The Lender can authorize us to stop the sheriff's sale.  Another dead end....unless I got a judge's order to stop the sale!

I tried to think of any judges that I knew or any lawyer's that might know any judges or friends of judges.  I even thought of going down to the courthouse and throwing myself at the foreclosure judge with offer's in my hands and tears in my eyes begging him to stop this nonesense.....

While I had my little fantasy of riding to the rescue I got a call from the homeowner.....the last agent told him there was no way to stop the process....they needed an offer at THIS PRICE or nothing.....Oh, and by the way....it takes 72 hours for all the stuff you faxed to get into our system....Bye!

Of course, I didnt' let that stop me.  I asked the Homeowner to call back to the same number but with the new extension and ask to speak to a Supervisor and not to take No for an answer and threaten to bring his attorney on the next call if he didnt' speak with a Supervisor.  After giving him a stronger script I hung up and waited......

Finally after 15 minutes while talking to a friend about the way the banks are setting up and the usual ranting and raving my call waiting kicked in and my Homeowner was on the line.  Hanging up without saying good-by to my friend I picked up to hear the news.....was it over........

Homeowner happily reported that he was able to speak to a Supervisor who actually listened and told the Homeowner that he needed to pick one of the offers, submit additional paperwork and fax it all to his personal fax tomorrow.  The extension for the sale was given and .....the home was saved!

Or so I thought...out of the clear blue sky I called the foreclosure attorney to make sure that they had received the message.  It was now after 4:00 p.m. CDT.  After getting transferred I lucked out and had a paralegal inform me that they had not received any notice from their client "The Lender".  I asked her my options and she said that I was out of luck if their client did not send them authorization to stop the sale.  I then repeated what she told me to make sure I heard her right and then said ''or a judge's order".  She then admitted that a judge's order would be honored.

I hung up upset that the "Lender" had not sent the email to the attorney to stop this.  What could I do....my only choice to find the homeowner's wife and have her call the "Lender".  I tracked her down and pleaded that she call the "Lender" to get someone to send the necessary information.  She did and was told that they did not have the paperwork.  The homeowner had left without sending the signed offer, hardship letter, listing agreement directly to the Supervisor!!!  She informed them that I could send most of the information except the HUD-1 to them but I needed the direct number.  After being transferred several times and asked the same questions over and over they finally found someone that was able to give her a direct fax number so I could send the information and the email could be sent.

I waited patiently for the Mrs. Homeowner to call back and as soon as I had the number faxed everything to them including my 6th attempt at the Authorization to Release Information.

I had don all that I could to try to stop the "sheriff's sale".  It was up to the Universe to take the final step.  I would find out tomorrow if the home had been sold at 9:00 a.m. or saved one last time.

 

 

 

 

 

 

 

Posted by

Evelyn Santiago

Managing Broker/Owner - 630-251-0059

Heart Realty Group, Inc.

We are Passionate About Real Estate!

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Rainmaker
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Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

What a story-I can see you worked so hard I hope it pays off. People don't realize just how hard we work.

Mar 16, 2009 07:18 AM #1
Rainer
47,255
John Secor
EXIT Real Estate Results - Winter Springs, FL

You sure went the extra mile, I hope it worked out for you!

Mar 16, 2009 07:42 AM #2
Anonymous
Anonymous

Pat & John:

Thanks for your comments.  It seems like the bank is willing to negotiate although they of course cut my commission already but I was prepared for that...BPO ordered already but only a drive-by which is not good (can't meet and try to show needed repairs and mold issues).  2nd lien holder had nothing on file since 2007 so I think they will be glad to get anything at this point (at least I hope so).

I will find out Thursday where we stand.  Will be worth the aggravation if we close this month.  I will keep you posted...

 

Mar 16, 2009 09:00 AM #3
Rainer
47,255
John Secor
EXIT Real Estate Results - Winter Springs, FL

Keep trying!  I've found that the 2nd mortgage holder is almost always the choke point.  They're getting wiped out so why not drag the borrower through the mud seems to be the mentality.  I'm thinking positive thoughts for you....

John

Mar 18, 2009 09:12 AM #4
Rainmaker
321,367
Evelyn Santiago, Managing Broker Heart Realty Group, Inc.
Heart Realty Group, Inc.. - Oswego, IL
Passionate About Real Estate & Our Clients!

John:

It's starting to look like your right...talked to the 2nd lien holder last week and was told to fax the short sale package to one fax number....called today and they have nothing...don't know anything and of course can't speak to me because the authorization is not on file so fax it to a Different fax number.....Thank God....that I am patient....and have had a good week!

Now if only the 1st would return my calls.....stay tuned for more on this fascinating....not....short sale.

 

Mar 20, 2009 08:25 AM #5
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Rainmaker
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Evelyn Santiago, Managing Broker Heart Realty Group, Inc.

Passionate About Real Estate & Our Clients!
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