I have hit that pitch before…

    Hi Everyone!

    It’s been some time since I had the time and inspiration to BLOG but I’m back!  I leave soon for a well deserved break (I’m told) and looking forward to that!

    Short sale sellers that think they have more experience and understanding of the process that we do are frustrating and downright stupid!!!

    We have completed too many short sale transactions to count since they became…..Well, since they became!  We didn’t have the term a few years ago…They started with banks asking for sellers to sign promissory notes and forgiving NO debt…They morphed into some debt forgiveness and cash settlements and today are basically just small settlements and full releases of liability.  Some are different but in general…That’s the story.  Your credit will suffer but not like in a foreclosure…You’ll struggle a bit to obtain a new mortgage but hey…You walked away from a promise to pay already so…

    The PROCESS is what’s difficult, not the ending.  The process of waiting for (courting) and working with a negotiator is the hard part.  When asked for paperwork, bank statements, pay stubs, etc PLEASE provide it right away!  You’re asking your bank to FORGIVE DEBT you PROMISED TO PAY and for that they expect some level of cooperation!  They do have the right to see all they are asking for and don’t really care what YOU think about it.  DISCLOSE you financial position and state the truth!  Have a legitimate hardship?  They will work with you…But just upset that you paid more for your “digs” than the neighbor just did, or just don’t like the home anymore…THAT doesn’t count and you’re wasting our time and resources asking us try.  We may in fact get your short sale approved but the bake will have terms to that approval that YOU may not like and THAT’S your problem, not ours.  Don’t ask us to cut commissions, waive fees and work for free so YOU can get out.  It’s not our house and our mortgage…It’s YOURS!  Have a boatload of money in the bank somewhere?  Plan to buy with cash right away?  Man…Some friend YOU turned out to be!  The banks WILL catch up to you and soon!  You simply can’t cheat the system like that…By the way, we’re NOT impressed either, you’re not smart in doing what you’re doing and we have NO respect for your actions!  Don’t misunderstand me…If you have a genuine hardship and need to sell…It’s our HONOR to help you through it with all the caring and respect you  and the situation deserve…Things happen and sometimes we need to hit the reset button, we get that!  My frustration is for the others…You know who you are.

    Real Estate is my occupation and I enjoy it…It affords me many luxuries I may not have thought possible…Time, money, feelings of accomplishment when we close a deal for someone (Kuz it aint easy people doing what I do-Although we may make it appear that way) but that nasty secret of seeing people trying to screw their bank makes me sick.  Stop it!  Grow up and go get to work!

    Truth is, you needed the bank to buy that house…If it went UP in value the bank didn’t share in that profit…Did they?  So asking them to take all the loss hardly seems fair.  Please respect the profession and those in it by acting responsible.

    -Have a great weekend everyone!  I feel better now…Thanks for listening!

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