It seems the weeks are getting busier, where are the lazy days of summer?  This past week I didn’t have time to blog or do some of the other things I wanted to do.  Short sales take time and sometimes, particularly when they are close to closing.  Lenders often take months to make decision to accept the short sale and then want it closed in 30-days.  You would think lenders, of all people, would understand that in this “post credit crisis” world no lender is closing loans in 30-days and the buyer is not going to risk having to pay $400 or more on an appraisal before the short sale lender issues an approval. 

I can understand why the lender wants to keep the pressure on to get it closed but recently we have run into a few negotiators who act like Attila the Hun and threaten agents and others with their power.   We recently got this email, “We will not be giving anymore extensions out what so ever if this does not close on this date and the file will be removed.”  Why would any logical person box themselves into a corner when getting the deal closed is in the best interest of their employer?  Here is part of an email the same negotiator sent this past week, “Only thing I can suggest is to get an extension to the closing date for next week sometime.”  The reason for the extension was it was going to take a week for them to approve getting more money than they originally approved.

Successfully closing a short is sweet and feels good because we have helped a homeowner avoid foreclosure and get a fresh start and because they are a challenge.  Okay I admit it,  sometimes it just the relief from the pain of having to deal with the negotiator.  Regardless we do them, we do them well and I don’t see them going away anytime soon.

If you or someone you know is having problems making mortgage payments and your home is worth less than you owe, give me a call at 916 290-9339 or send me an email to juliej@jalone.com and see if you qualify to consider a short sale.