Comments on: Time For Short Sale Approval http://shortsalesr.us/short-sale-how-to/time-for-short-sale-approval/ Selling a House When You Cannot Pay Off the Bank Sat, 05 May 2012 23:57:31 -0700 hourly 1 http://wordpress.org/?v=3.1.3 By: Tim Burrell http://shortsalesr.us/short-sale-how-to/time-for-short-sale-approval/comment-page-1/#comment-1230 Tim Burrell Sat, 13 Jun 2009 16:20:55 +0000 http://shortsalesr.us/?p=239#comment-1230 It is all about negotiating ability, isn't it? Good work. Other techniques that work are to escalate your discussion to the supervisors, then go around the servicer to the investor. If there is a guarantor of the loan, discuss the situation with them. Anyone that the loss mitigation department has to answer to will improve your review. time. Great work on your part, and thank you for adding to the wisdom of the group with your technique. It is all about negotiating ability, isn’t it? Good work. Other techniques that work are to escalate your discussion to the supervisors, then go around the servicer to the investor. If there is a guarantor of the loan, discuss the situation with them. Anyone that the loss mitigation department has to answer to will improve your review. time. Great work on your part, and thank you for adding to the wisdom of the group with your technique.

]]> By: Anne http://shortsalesr.us/short-sale-how-to/time-for-short-sale-approval/comment-page-1/#comment-1229 Anne Sat, 13 Jun 2009 15:41:00 +0000 http://shortsalesr.us/?p=239#comment-1229 I am currently going through a short sale. We got a fair offer for the property and submitted all the paperwork to the two banks that I have loans with. The first bank approved the short sale right away but the second bank was dragging their feet. It was impossible to get in touch with the 'negotiator'. We were coming down to the wire and the buyer didn't want to give us any more extensions. I really didn't want to lose the property to a foreclosure since a short sale is better for my credit than a foreclosure. Someone suggested that I contact my local Congressman's office for help. I called them on a Monday afternoon. That same day they faxed me a privacy release which I sent back right away. They contacted my second lien holder Tuesday morning and by Tuesday at 5pm we had our answer. My advice -- if you are the seller in a short sale situation and you are stuck waiting for the bank's approval -- contact your local Congressman's office and have them help! Because of that one phone call my short sale is now approved by both banks and it only took about 30 days for everything to go through. Short sales don't have to be a nightmare if you are organized from the start and know who to call when you need help! I am currently going through a short sale. We got a fair offer for the property and submitted all the paperwork to the two banks that I have loans with. The first bank approved the short sale right away but the second bank was dragging their feet. It was impossible to get in touch with the ‘negotiator’. We were coming down to the wire and the buyer didn’t want to give us any more extensions. I really didn’t want to lose the property to a foreclosure since a short sale is better for my credit than a foreclosure.

Someone suggested that I contact my local Congressman’s office for help. I called them on a Monday afternoon. That same day they faxed me a privacy release which I sent back right away. They contacted my second lien holder Tuesday morning and by Tuesday at 5pm we had our answer.

My advice — if you are the seller in a short sale situation and you are stuck waiting for the bank’s approval — contact your local Congressman’s office and have them help!

Because of that one phone call my short sale is now approved by both banks and it only took about 30 days for everything to go through.

Short sales don’t have to be a nightmare if you are organized from the start and know who to call when you need help!

]]> By: mark http://shortsalesr.us/short-sale-how-to/time-for-short-sale-approval/comment-page-1/#comment-80 mark Wed, 15 Apr 2009 12:37:55 +0000 http://shortsalesr.us/?p=239#comment-80 I rarely comment on blogs but yours I had to stop and say Great Blog!! I rarely comment on blogs but yours I had to stop and say Great Blog!!

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