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A Rant About Lender Incompetence On Northeast OH Short Sales

Northeast OH – I am so sick of the incompetence and arrogance of people in the banking industry! It seems like the incompetence never ends.

We had a short sale closing last week. The underwriter for the buyer’s lender didn’t like the way the short sale approval letter was worded. They wouldn’t approve the loan until the short sale approval letter was changed.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

We called up the short sale lender. They said they wouldn’t make the change. The buyer’s lender said the deal was dead. The problem is that how the short sale approval is written makes no difference to them.

Most title companies have millions of dollars in reserves to solve title problems. The title policy states and guarantees the title, no matter what the short sale approval letter says.

They guarantee that if any problem arises they will write a check and solve the problem. That’s why you order title insurance! Apparently this underwriter thought their job duties required them to do the title company’s job as well.

We finally called the CEO of the buyer’s lender. We told them that they were out of line. We told them that realtors and home sellers can’t just make unrealistic demands.

What if a home seller demanded, “I want to make sure all funds brought to closing have never been laundered or used in the drug trade. We also want the money to be backed by gold.”

You and I know that is not going to happen. I am forced to deal with incompetence and power trips with short sale lenders. I sure am not going to put up with it when I’m the customer.

Fortunately, our argument with the CEO’s office worked. They realized that they were in the wrong and made an exception for this sale. What is your opinion on this?

Do you think that the lender in this situation is out of line? Would you recommend that we not refer loans to them? Enter your comments below. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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