HI EVERYONE:
I AM BEING WAITING FOR A WEEK AFTER I PROVIDED EVERYTHING THE NEGOTIATOR ASKED ME TO PROVE MY CASE. LAST TIME I SPOKE WITH HER SHE TOLD ME DO NOT CALL HER BACK UNTIL SHE IS READY. IT HAS BEEN A WEEK AND STILL WAITING FOR HER. MY DOUBLE CLOSING IS COMING UP THE 15TH OF FEBREUARY AND NOT ANSWER YET. PLEASE ADVISE IF I SHOULD PATIENTLY, OR JUST CALL HER AND GET HER TO BUDGET… I AM DESPERATE, THIS IS MY FIRST SHORT SALE AND I DON’T WANT TO MISS MY CLOSING… PLEASE HELP !!
Unfortunately, though you may have all the documents into your negotiator she/he may have files that are more pressing because of urgent foreclosure sale dates.
When I have agents that start calling me everyday I tell them that I have a lot of files and the ones that are handled first are the ones with pressing sale dates. I could care less if an agent tells me that the buyer is going to walk- let the buyers walk. If an agent needs an answer immediately I let them know it’s declined or will require a full payoff, otherwise it needs to go through the full short sale review which can unfortunately take 8 weeks or more. Every agent/buyer for every file I have tells me that their file is urgent or needs to be rushed, so we’ve been told to prioritize based on the foreclosure date and then touch files based on oldest in portfolio.
Another thing to think about is even if you have all the documents you think she’ll need to review file, she might be waiting for an internal payoff or investor/mortgage insurance guidelines on the file/loan type.
So I don’t know- if you think it’ll help you by bugging the negotiator-- go for it-- but when I have 200+ files for short sale and have a agent that’s pestering me to get theirs done (because the buyer will walk/has to close by a certain date) they unfortunately just have to wait till whenever I get to it.
What are some of the FHA insurance guidelines on foreclosures?
Thank you so much for your answer… I understand my file is not the first one on her big pile of files, however, my closing with my end buyer is coming up on feb. 15, if I dont’ have her payoff I will lose my deal., Please advise me, how I could tell this lady that I must have her figures prior this date. She told me to pay her full appraisal, I showed with facts that’s not possible. The market in MA does not support it. I showed to her comps in a three months range, 0.4 miles radious from subject property that has been sold in average price no more than $ 169 K, I offered $ 150 K, which I will be glad to offer to her $ 170 K and she will pay the realtor commission. Is there an special language to motivate this woman to budget ??, PLEASE HELP ME !! THANKS.
There is no such thing as a motivated loss mitigator. They are overworked, under payed and generally rather humorless. It is the old golden rule, “He who has the gold rules”. Unfortunately you usually have to operate on their schedule.
That is why when you procure an end buyer on a short sale you have to make sure that they are willing to wait for the lender to do his thing and finally come to the table.
The quickest way to get your file moved to the bottom of the stack is to tick off the bureaucrat.
People who are over-worked do not appreciate phone calls that stop them from working, even for a few minutes.
If you are going to call, make it friendly and don’t call too often. Since you were specifically told not to call, I suggest that you call even less often.
Quite honestly, the loss mitigator’s world is not all about you, and she doesn’t care if you made a mistake and thought you could close a deal faster than is possible. Your poor planning does not make an emergency for her.
For your information in the future, you can make everyone happy to hear your voice if you work at it. Be friendly. Make them the center of attention, even if just for a few seconds. It costs you nothing and it gets you better service. Nagging, on the othert hand gets you nothing but resentment and poor service, because they are not about to go out of their way for you.
What is the loss mitigator doing when you call? Is she rolling her eyes and snorting in exasperation, “Now what does he want?”
If so. you aren’t going to get good service.
You couldn’t be more specific… thank you for your replay…Let me share something with you…I have a very nice gift which is the tone of my voice. I am not rude, I am very friendly. I think my problem was to think that I provided all the info she needed and I thought she will make a determination base on the facts I sent her in a couple days. I even share with her little personal issues like my daughter couldn’t go to an X college she applied to… just to make the conversation little bit human. However, she persisted to give her more time which I did. It has been 5 business since I last spoke with her. So, I will keep waiting or maybe at the end of this week I will say a quick hello !!. But I tell I am a nerve rack this is the biggest test in my whole call " BE PATIENT "