Lenders Just Not Doing There Job

With so many defaulted loans they are not being able to keep up and it's
becoming chaos in every aspect.
Borrowers are walking away from there homes as a badge of courage. Lenders
are giving out REO business to the first Realtor to reply to an email. Loss
Mitigation cannot hire enough new suckers (People) to do the job. BPO business
has completly gone corrupt. Lenders padding there bottom line losses so they
don't even record N.O.D. or N.O.T. Working out a loan modification is like
pulling teeth. Customer service is still not the right people to talk to.
Collections departments basically check there conscience in at the door when
they get to work every morning.
Now, all this being said, you expect your client to be hopeful and helping.
Well, in order to complete a Short sale transaction, they better. You must
prequalify your clients for commitment. Without it, your spinning your wheels
and wasting your time.
As far as Loss Mitigation goes, they get lied to by Realtors all day "My deal is better than Foreclosure." They here that shit all day do you think they even believe
you. Can't prove your hardship? Probably not that hard then sorry, bottom of the pile.
My point is, for a full time Realtor working anywhere in the Central Valley of
California or East less any really desireable areas, will be dealing with Loss
Mitigation for a long, long time.
Good luck...


-Christopher Rockey