OK, this post is really designed to give Realtors and Homeowners alike a chance to vent about the short sale process. Please give us your short sale nightmares in Maryland.
I am in the middle of a Short Sale with ????????? lender and I swear the loss mitigation department IS ON CRACK!
I have contacted loss mitigation every 2 days to make sure that the file is being diligently worked on. Each time I contact the Loss Mit. department I ask very detailed questions and notate who I spoke with, what time I spoke with them and the details of our conversation.
I always end the conversation by asking
“Is there any additional paperwork that you need at this time”
OK, well I have spoken to 5 different individuals in loss mitigation over the past 10 days and each one of these people have told me that the file is being reviewed by a processor/negotiator and “There are no additional documents needed”
Last night I get an email from the negotiator stating that the file is incomplete and we need to send updated paystubs, tax returns, and a financial statement.
Not only have I been told by 5 people that no additional documents were needed but ??????? lender ALREADY HAS THESE DOCUMENTS!
This is becoming a recurring nightmare not only with Wells Fargo, but with Bank of America, Citimortgage, Chase and the like. No wonder buyers and sellers throw in the towel!
Thankfully, I anticipate these issues and understand that this will happen. I also make sure that our files are being touched multiple times per week. If you are an agent or homeowner YOU MUST FOLLOW UP WITH YOUR FILES SEVERAL TIMES PER WEEK!
Let me know your thoughts!
