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Exclusive Short Sale Meeting Gives Unique Insight

Published January 21, 2011 in Bank America Short Sales - 0 Comments

Short Sale Power Hour

The man joining us now needs no introduction. He is the only cowboy hat wearing, short sale closing guy that we know in the whole state of Texas, Knolly Williams. We have just finished up the Keller Williams Mastermind event, plus a special get-together regarding short sales. This assembly included reps from Fannie Mae, Citi, Bank of America, and Wells.

We took many valuable things away from these meetings. Firstly, it was exciting to see the banks show up for this meeting. They cared enough to communicate with us. These were VP’s of short sale departments. There is noticeably a disparity between what we see and what they see. A lot of times the bank reps admitted that there were issues. Lack of communication and lost documentation were only 2 things that they noted. The lender reps are also aware of their workforce situation and noted that it is important to escalate if you observe a problem.

Moreover, the banks have increased their workforce to deal with short sales. Bank of America doubled their workforce from 1500 to 3000. You can not train 1500 loss mitigators in a few months. So, the lesson is simple. You have to be good enough to work through or above or around the 1500 new loss mitigators.

There were some interesting moments where there was some hostility between the servicers and the investors. You have got to overcome that conflict. You don’t want the lenders to bring the solutions all of the way since you will be out of a job. You’ve got to carry your bag of magic tricks to each deal.

Lastly, a special thank you to Knolly Williams for joining us yet again today. He was our first guest on Short Sale Power Hour and we always appreciate his insights.

Short sale FAQs and more.

Get powered up by Kevin and Fred at Short Sale Power Hour by the Short Sale Specialists of Arizona

Short Sales And Deficiency Judgments

Published January 21, 2011 in Bank America Short Sales - 0 Comments

Short Sale Shift

Hi, We are Josh Pomerleau and Sarah Willman, Minneapolis/St. Paul’s top short sale team. We are doing well today and we wanted to communicate some information with you at the moment on the topic of deficiencies.

We observe lots of agents struggle with deficiency waivers. It is extremely hard to negotiate that deficiency waiver. Nonetheless, with the short sales that we are completing in Minneapolis/St. Paul we are getting very good at making sure there is no deficiency. In the state of Minnesota you have six months before the sheriff sale is announced and an extra six months before the sheriff sale is supposed to occur. So, with your Minneapolis/St. Paul short sale, you essentially have twelve months before you have to leave your Minneapolis/St. Paul property.

Essentially, if you have a first lien on your Minneapolis/St. Paul home the deficiency is being waved 90% of the time. If there has been fraud or they recognize you have money they may try to file a deficiency against you. Yet, we frequently send our patrons to attorneys so that they can be sure of what they are getting into. We understand how the procedure works. HOwever, we can not give legal counsel.

When we negotiate your Minneapolis/St. Paul short sale we combat very hard to ensure that you do not have any deficiency. A lot of realtors have trouble dealing with the second lien and getting no deficiency on that. Nonetheless, that is a lengthy discussion. So, we will approach that topic in tomorrow’s video.

If you have more questions on the subject of your Minneapolis/St. Paul short sale, please feel free to get in touch with us. You can get in touch with us through the chat function on our website or give us a phone call or send us an email. We look forward to helping you solve your Minneapolis/St. Paul short sale questions.

Minnesota Short Sale Shift can answer your questions. We are Minnesota’s Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale Realtors, Josh and Sarah, at Short Sale Shift presented by the Short Sale Specialists of Minnesota

US Bank Short Sale Specialists

Published January 20, 2011 in Bank America Short Sales - 0 Comments

Short Sale Shift

After digging out from the most awful snow storm in Minneapolis for years, we’re here today to carry on our short sale talks about particular lenders. We have been noticing lots of Minnesota short sale packages from US Bank. US Bank is situated in Minnesota, so it’s not a surprise that they have a stout existence here. We simply wanted to talk about how well Minnesota short sales are going with US Bank.

After dealing with so many short sale files, there are many different directions your file can go within US Bank depending upon the investor. We feel like we have become US Bank experts because we have an insight about where the loan record is coming from and what type of short sale it is.

Because we follow a progression and a proven technique for completing short sales, we get through the troubles that we might have in dealing with your Minnesota short sale. Other agents will get hung up on those problems and find themselves at the same place two weeks later.

It has also been incredibly helpful for us to be especially organized with our acquaintances at the bank. We consistently work with the same people at the bank on numerous folders to help speed up the process. The lender staff appreciate this as well because this also helps us converse smoothly. Furthermore, they realize that we are experienced in dealing with short sales.

If you are considering a short sale in the Minnesota vicinity, please make contact with us today. We have more practice with Minnesota short sales than anybody in the state of Minnesota. You can telephone, email or make use of the chat function on our blog. We’re the leading short sale realtors in the Minneapolis/St. Paul region and we can help you elude foreclosure.

Minnesota Short Sale Shift can answer your questions. We are Minnesota’s Foreclosure Avoidance and Short Sale Specialists.

Get more help from short sale Realtors, Josh and Sarah, at Short Sale Shift presented by the Short Sale Specialists of Minnesota

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