Dumpster Diver Discovers "Lost" Short Sale Files

By
Real Estate Agent with Key West, Key Haven, Geiger, Sugarloaf, Cudjoe, Summerland 3112649

WAMU short sale story!

  

Jacksonville, Florida- Daniel "Dino" Odum, part-time Ferris Wheel operator, flea market vendor and former Realtor® loves to hunt for dumpster treasure. This past Friday was no exception.

While walking past what appeared to be a stuffed-to-capacity dumpster at the Bay Meadows Washington Mutual building, Odum caught the glint of something "shiny" out of the corner of his eye and decided to investigate.

As Odum approached the dumpster and slipped on his leather elbow protectors, in preparation for a quick dive, he spotted what appeared to be a "gently used" tackle box.  A "real find" in flea market circles.  But as Odum got closer and flipped back the rubber lid, he was shocked by what he found inside.

Familiar with real estate documents from his year in the business (2005), Odum found what appeared to be hundreds of thousands of fax cover sheets from Realtors®, third party authorization forms, hardship letters, bank statements, short sale addendums, purchase offers, listing agreements, family photos, losing lotto tickets and copies of Psychic Hot Line bills.

Odum immediately contacted authorities and tipped off Eyewitness News to the situation, with a request that he be allowed to keep the tackle box if it wasn't going to be used as evidence.

When authorities arrived at the scene, they found WaMu employees flinging files out of a second story window directly into the overflowing dumpster.  Loud music, hysterical laughter, and 'high-five' hand slapping could be heard from the parking lot.

According to investigators, the files Odum discovered are the "lost" short sale files Realtors® have been submitting to WaMu since their takeover by Chase in late 2008.  Some of the files have been submitted repeatedly, often as many as 10 different times to different fax numbers and/or locations.

The director of WaMu's loss mitigation department was unavailable for comment, but sources claim he is a former Active Rain member who was permanently banned for comment spam and continual violation of AR's guidelines.

Disclaimer: This "News Item" was written by Ralph the real estate dog.  It is a work of (comic relief) fiction. Only the photo is real. Any resemblance between the characters, persons or Realtors® is purely coincidental.  Photo GNU Free Documentation License, through Wikimedia.

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Ambassador
1,813,755
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

I love Ralph's Stories.  Of course the good news is as much as they sound like what happens in real life they are indeed just Ralph's musings and not true.

Aug 13, 2010 03:43 PM #1
Rainmaker
173,903
Maya Thomas LLC, Broker
Key West, Key Haven, Geiger, Sugarloaf, Cudjoe, Summerland - Key West, FL
Key West FL Historic Old Town Estates, Bungalows

Hi Cindy,

She is the best writer - ever!  What a great laugh!  So life-like!

Aug 13, 2010 03:56 PM #2
Rainmaker
1,175,830
John Pusa
Sellstate Pacific Realty - Glendale, CA
Your All Time Realtor With Exceptional Service

May - Interesting information, maybe it could happen. Thanks for sharing it.

Aug 13, 2010 03:58 PM #3
Rainmaker
173,903
Maya Thomas LLC, Broker
Key West, Key Haven, Geiger, Sugarloaf, Cudjoe, Summerland - Key West, FL
Key West FL Historic Old Town Estates, Bungalows

Hi John,

It does sound a little more like BoA than WAMU, but I enjoyed a wonderful laugh!  

Aug 13, 2010 04:04 PM #4
Rainmaker
78,998
Jack Lewitz
Jack A. Lewitz - Evanston, IL

It takes a real dog to sniff out what Chase and WaMu are doing in the dumpsters. Good Dog Ralph.. Now bite them in the ass because they deserve it.

Oct 16, 2010 08:33 PM #5
Rainmaker
173,903
Maya Thomas LLC, Broker
Key West, Key Haven, Geiger, Sugarloaf, Cudjoe, Summerland - Key West, FL
Key West FL Historic Old Town Estates, Bungalows

Hi Jack,
Can you imagine how different things would have been if banks would have waived late fees and added the skipped payments to the end of loans when this first started?  The banks could not have cared less when people called so say they were having problems.  Today the seller's couldn't care less about walking away from their mortgages and taking the appliances, ceiling fans and air conditioners with them.

Credit card companies are just like the banks.  The minute someone is late they post that late pay and increase the interest rate.  If someone needs help because of an emergency the credit card doesn't suspend the payments for a 3 month grace period which would help a person get back on their feet.  6 months later the credit card company writes off the debt and moves on.  The person's credit is ruined the company takes a loss when they could have kept the borrower and kept getting paid. 

When a person has good credit to protect they will jump over mountains or eat peanut butter and jelly sandwiches to keep that good credit. 

Once credit starts going down hill, interest rates go up, cards get cancelled people feel like their financial life is ruined.  They give up and feel like walking away.  They feel like starting over in a few years is a better solution.  I've been watching the same story for years now.  I see how sellers transform from gut wrenching agony and sleepless nights over being a payment late on their mortgage to taking a vacation while waiting for a short sale approval from the lender.
Maya

Oct 31, 2010 02:14 PM #6
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Rainmaker
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Maya Thomas LLC, Broker

Key West FL Historic Old Town Estates, Bungalows
Call me now! (305) 522-1398
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