For ME?.... a slam dunk.
I just left a stint with a major bank and Shorts Sales are NOT being effectively executed.
The Short Sale processes is WAY to complicated and between the Banks and the investors (Fanny and Freddy) it appears that somebody is going out of their way to ask for the wrong info, lose docs and hire the wrong people to get the work done. (or not done)
What do YOU think? DO you have experience in the short sale process? Maybe you had to sell your house, or tried to buy a Short Sale Property...or maybe you are a Real Estate Agent.... Did the process take MONTHS.... and then it was declined anyway ?.... and now not only do we have a Home Seller who TRIED to do the right thing.....but we also have a Real Estate Agent who lost MONTHS of their time... and a buyer who was let down.... again and again.....
Lessons Learned?
a) Home sellers, if you are doing a short sale then your credit is already ruined. Apply for HAMP and ask for the $3000 they will give you if you move out and leave the place in good shape. No matter what the response is Get it in writing and SAVE YOUR EMAILS !!!
a1) Home Sellers, The Bank and the Mortgage Insurance company are going to ask for a cash contribution and/or threaten to have a deficiency judgement place against YOU..... so you might also consider BK. BUT there are some states that are "Non Recourse States" ....more on this subject later. (But if .....I..... was in a Non Recourse State I would tell the Banks and MI companies to SHOVE IT with their Bailout Money)....
c) Real Estate Agents !!! Refer the home seller to an expert and walk away. Forget making a living with short sales and focus on REOs.
Want to hear MORE?
Do you have a REAL EXPERIENCE? Please reply here and or post a Comment at
888SOLDin9.com/forums
AND..... please email us at 888SOLDin9@gmail..... ask a question and get an answer from REAL.... Real Estate Experts...... NOT GURUS trying to sell you "the very bestest real estate training course ever invented" for $999 ..... real advice.... from really angry American Real Estate Experts.
By the way
One of my contractors says that Ryobi 18 v volt cordless tools are junk. He had these including the 18 volt cordless drill driver, the 18 volt hammenr drill , circular saw , sawzall , you name it he has had them and gave up. He says that "The Batteries are TERRIBLE" and the chuck design on the drills is worse. The batteries have very little useful working life. They don't power the tools for very long and they don't hold the charge while not in use. I gave him extra money so that he could buy extra batteries. Before the house was completed THOSE batteries were not hold charge. Also the Drill chucks; no matter how hard you tighten the screw driving bit in the chuck, when you back out a screw, the chuck will loosen and the screw driving tip will fall out. screw driving tip.
We ended up working out a deal so that he could buy DeWalt tools.
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