Are the Banks Playing Hard Ball???

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Real Estate Agent with Trin Hong Real Estate Inc.
I am curious.... there are so many banks out there that all of us are dealing with on short sales, which are the best to work with? I know there are certain banks to stay away from and others that are cooperating. I think we could all benifit from knowing which banks are the "good guys" and which one's we need to kick to the curb! Save us all some time!
Jennifer Horton
Realtor
Trin Hong Real Estate Inc.
Marin County, CA
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Rainer
30,843
Johnny Huang
Pleasant Hill, CA
Insurance and Real Estate Broker
Banks are unemotional, behind the banks are people with jobs that they don't like. Innundated work, long hours, and the constant yelling by their superior for them to save the property and net the most money makes them hard to play with. I'm sure there are some that are pleasant, they are a dime a dozen.
Feb 22, 2008 02:38 AM #1
Anonymous
Anonymous
Anonymous

Consumers who have fallen into the debt snowball are often advised through the media to "consult their lenders" to work out a plan to get through the tough times.  Unfortunately, the telephone-bank-lender-representatives who answer the phone calls haven't heard and do not care that there is a foreclosure crisis on the horizon.  Pleas of the consumer are met with deaf ears and hasty fingers typing less-than-favorable remarks in the consumers electronic lender file.

I've tried to assist several clients by contacting their lender company to negotiate either new terms or short sale arrangements.  Currently, I hold a 50% batting average achieved by climbing the "ask for the supervisor"-and-"hold please" ladder to reach some real person who A) Actually understands "the big picture" in the market; and B) Actually cares enough to try and help!

Feb 23, 2008 05:38 PM #2
Rainer
10,058
Jennifer Horton
Trin Hong Real Estate Inc. - Novato, CA
It seems like WAMU has been incredibly difficult bank to work with for my files. They start to work on things, then it get's "stuck" with the negotiator for months w/ no progress! Frustrating!
Which banks are going through and which are not?
Jennifer Horton
 Realtor
Trin Hong Real Estate Inc.
Marin County, CA
Apr 17, 2008 12:28 AM #3
Rainmaker
110,860
Wendy Smith
Wendy Smith Real Estate - Clearwater, FL
Real Estate Advisor

option one, ocwen, chase = challenging, difficult to work with

select portfolio was best short sale experience ever

carrington used to be good but now sucks

citi tops the list as bad, bad, bad and I refuse to do anymore with EMC

I've been collecting names of "power people" at the different lenders, I have even called the Office of the President or CEO to get thru to an "action" person

short sales are tough

Apr 17, 2008 08:59 PM #4
Rainer
10,058
Jennifer Horton
Trin Hong Real Estate Inc. - Novato, CA
Wendy,
Thanks for your insight! It's much appreciated. If you'd like to share your "power people" w/ everyone it would probably be very helpful for all!
Jennifer Horton
Apr 21, 2008 06:12 PM #5
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Rainer
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