Club Chaos Agents - All Things Hollish, Wacked, and Jacked

head_left_image

Pointing the Fingers in a Short Sale

I had a couple of closings yesterday. One was in Roseville, and the other was Rocklin. Both were short sales. As a Sacramento short sale agent, I list and sell short sales from Galt to Lincoln. I'd like to say that I sell only in Sacramento, but that's not the case. In fact, we've got a short sale in Grass Valley, of all places.

One of those short sales was a nail biter. Or was it? It was definitely a nail biter to the mortgage loan officer. He called me earlier this week with his knickers in a twist. He was pretty upset. How could I let his client spend all of this money on inspections and appraisals when we didn't have the approval letter from the second lender?

First, his client is not my client. My client is the seller. Second, I've been selling short sales for 6 years straight. I know what happens when Greentree is the second lender. I am also very familiar with a Bank of America short sale. In fact, I'd say I close more Bank of America short sales than any other type of short sale. And this short sale involved Bank of America and Greentree.

Bank of America issued approval a long time ago. But Greentree dragged its feet. When it finally did issue an approval letter, it gave us 2 days to close escrow and deliver funds. Coincidinky, that approval letter arrived just when I said it would. Two days before closing. Stressful? Yeah. But many short sales are like this. If we hadn't started the loan early, this would not have closed. This short sale would have gone to trustee's auction.

Of course, when we received the Greentree letter, we needed approval from the first lender because there was a contribution. SB 458 didn't stop that. If you think SB 458 is some kind of magical savior in a short sale, think again. But Bank of America was fast in its turnaround and revised its letter.

In all honesty, there was a certain amount of satisfaction in telling the mortgage lender I did my job. I performed. But what was amusing if not frightening was when the MLO said he didn't know if he could fund. This time I got to the point the finger at him. And I reminded him that if he could not fund, everybody would blame him. All eyes were on him. The focus was in his direction now. Funny how the tables turned, huh?

We had a good laugh. Well, I had a belly laugh. He funded. We closed. He was a good guy, a good mortgage broker. The thing is it doesn't just take a village to close a short sale these days. It takes a freakin' country.

sacramento short sale agentcerfified hafa specialist

---

Certified HAFA Specialistelizabeth weintraub

 

equator certified platinum short saleequator certified platinum reo elizabeth weintraub

Elizabeth Weintraub reviews

 

 

 

 

 

Sacramento Real Estate Listings

 

 

 

Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available with free shipping.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

Pointing the Fingers in a Short Sale
share
I had a couple of closings yesterday. One was in Roseville, and the other was Rocklin. Both were short sales. As a Sacramento short sale agent I list and sell short sales from Galt to Lincoln. I'd like to say that I sell only in Sacramento, but… more
Maintaining the infrastructure of an empire gets harder with every…
share
As anyone that develops Internet content on a regular basis can tell you, it doesn’t take long to produce a vast repository of useful but often dated information. The ability to easily deliver new and fresh content has a dark side to it… more
Careful… If you ask I'm gonna tell you to follow @JayeWells. Here's…
share
Careful… If you ask I'm gonna tell you to follow @JayeWells. Here's why… I have a thing for the fabulous Sabina Kane series Jaye Wells created. Irony is until a few weeks ago I had no idea who my recent tweet-peep was but… more
Video Tour of a Tega Cay, SC Waterfront Home for Sale
share
http://www. elainesiegel. com and http://www. amazingvideotours. com are proud to bring you this Tega Cay SC Waterfront Home for Sale Video Virtual Tour &… more
How To Effectively Spam a Facebook Event to Your Friends
share
Over the past few days I’ve noticed more an more issues on Facebook with those I am connected to. For the longest of time things seemed to be going well. Then all of a sudden there seemed to be another mental lapse on how to use Facebook for… more
If Bank of America Says You Qualify for a HAFA -- You Might Not…
share
Did you read what Zsa Zsa said when she saw that billboard on TV, which her husband Prince Frederic Von Anhalt slapped up in her honor? The billboard is on Sunset Boulevard in Los Angeles. It's a wedding photo of Zsa Zsa Gabor and her husband. … more
What is your purpose in life? What do you do better than anyone else?
share
What do you do better than anyone else? It’s a fair question. We all like to separate ourselves from the rest of the pack and stand out from the crowd. In boring sales jargon it’s called your USP or Unique Selling Proposition. It’ used to… more
Monster Mini Golf - Paramus NJ - Fun for the Family
share
Monster Mini Golf - Paramus NJ - Fun for the Family If you are looking for something different to do in Bergen County, NJ, then consider a round of mini-golf with a different flavor!! "Monster Mini Golf" in… more
Paramus Homes Sold Market Report and Homes For Sale Summary - June…
share
Paramus Homes For Sale Summary | June 2011 Market Report Information deemed reliable but not guaranteed per the NJMLS. Paramus offers a terrific opportunity to live in a Bergen County town with… more
Maywood Homes Sold Market Report and Homes Fos Sale Summary - June…
share
Maywood Homes For Sale Summary | June 2011 Market Report Information deemed reliable but not guaranteed from the NJMLS. Maywood is a delightful suburban community, with a friendly feel - a… more