Cape Coral short sale solution

Cape Coral short sale solution

I’m a firm believer in only addressing a problem if you have the solution.

The recent blog I wrote about Countrywide short sales sure caused a lot of comments, emails and phone calls.

Not to worry, I have a solution.

Read the full article about Countrywide Short Sales and the WHY behind this post.

Here’s what I propose the banks do to collect the most money back on these bad loans:

1)    Have an intake department with a checklist of items needed in package

(timeframe: same day of receipt)

a.     Reject all that are missing items – send letter of explanation

b.     Forward on all complete packages to analysis team

2)    Analysis Team – reviews package

(timeframe: 2 days of review)

a.     Verifies hardship

b.     Verifies value

c.      If good – forward to closing negotiator

d.     If doesn’t work – send letter of why/reject

3)    Closing Negotiator – closes file

(timeframe: 2 days of review)

a.     Reviews file

b.     Send approval

Ok, maybe I’m in dreamland but I think this would work. Banks would send approvals within a week. Sell off bad loans within 30 days. Our real estate market would improve as the inventory is sold.

Sound simple? Remember KISS? Yep, that’s right!

I’m sure there are thousands of incomplete, bogus-offers files sitting somewhere at every bank. If they would just reject those upon receipt it would give their staff time to work on files that actually make sense.

By the way, we will still handle Countrywide short sales. Just keep in mind that they might take longer than the others – at least until Countrywide fixes up their process.

Any loss mitigators out there? I’d love to hear your comments!

Read the full article about Countrywide Short Sales and the WHY behind this post.

As always, if you are considering buying or selling in the Cape Coral and Ft. Myers area, we’d love to assist you. Buyers, search thousands of homes for sale on our website. Sellers, if you need help with a short sale let us know. We’re here to help.

Yours in Success,

The Florida Future Realty Team

239-542-8521

inquiry@floridafutureagents.com

Ask for our information packet to be emailed directly to you or call our broker, Susan Milner, to have your specific questions answered!

After hours, call Susan Milner on her personal cell phone at (239) 218-2229 or email directly to Mail@SusanMilner.com

~ Before you decide to sell your house as a short sale we recommend you contact BOTH a CPA/tax professional & an experienced Attorney to discuss YOUR specific situation. Laws & guidelines change frequently and you want to be sure a short sale is in YOUR best interest! ~

copyright 2008-2013 Susan Milner | Florida Future Realty, Inc.

Disclaimer: For those of you who are not familiar with short sales; this is NOT the way banks are handling short sales. This is how I propose they handle them. Currently many negotiations are taking 30-120 days to facilitate. Following the above advice would DRAMATICALLY reduce this time!